News content
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Telecom Italia’s €2bn convertible bond, launched on Thursday night and priced on Friday morning, was a big success, netting it cheap funding with a very unusual 70% conversion premium.
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French luxury goods holding company Kering has issued a €500m seven year bond. -
Armenia sold $500m of 10 year notes on Thursday while simultaneously completing a buyback of its 6% 2020s at par.
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Deutsche Lufthansa, the German airline company, has announced its intention to issue its first hybrid bond, in the same week that strikes forced it to cancel hundreds of flights.
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Bank of China (BoC) has created an index to track the spread between onshore and offshore RMB bonds. The bank hopes that the new BoC Credits Investing & Financing Environment Difference Index (CIFED) will provide corporates and financial institutions with a valuable metric to help decision making.
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Indian budget airline IndiGo is aiming for a listing in the second quarter of this year, via a deal expected to raise between $400m and $500m, say sources close to the situation.
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Vistra Group is looking to list in Hong Kong, hiring JP Morgan and Morgan Stanley as its lead bankers.
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The Shanghai Hong Kong Stock Connect is set to see trading volumes grow further on the back of a new system that will further address the risks arising from its pre-delivery check requirements.
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Huawei Technologies has sent a request for proposals for a borrowing of around $1bn, said bankers.
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In this round-up, RMB clearing in Hong Kong and RMB trade settlement in China fall in February, Taiwan RMB deposits rise to a record, Suriname gets an RMB swap line, and the Shanghai International Energy Exchange plans to allow foreign investors in the crude oil futures domestic market.
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State owned enterprise Beijing Capital Group (BCG) is planning to issue its first ever dollar bond having scheduled a series of investor meetings starting on March 23.
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Cheung Kong Property has cut pricing on its HK$55bn ($7.1bn) reorganisation loan after around 20 banks expressed an interest in joining with a chunky HK$5bn ticket.
