Nomura

A pair of bumper dollar deals from top-tier borrowers reopened the SSA benchmark market on Wednesday after a two-week hiatus, drawing something of a line under a period of market uncertainty.

Melrose Industries, the UK company that aims to buy, improve and sell underperforming industrial businesses, will conduct a heavily dilutive £1.655bn rights issue, cheering equity capital markets bankers who had feared months of weak activity, especially in the UK, after the shock of the Brexit referendum.

With the hree new issues in the market this week progressing well, the SSA market seems to have put Brexit chaos in the past and returned to business as usual.

South Korea’s Woori Bank is set to meet investors for its second dollar-denominated Basel III additional tier one bond.

China Resources Beer (Holdings) Co is preparing a jumbo rights issue, aiming for a size of HK$9.5bn ($1.2bn).

Nederlandse Waterschapsbank will tomorrow print the first benchmark since the UK shocked markets with a vote to leave the European Union on June 23.

Nomura has added a pair of bankers to its Asia ex-Japan equity capital markets team, according to sources familiar with the matter.

China’s DFZQ, also known as Orient Securities Co, and China Development Bank Financial Leasing Co have raised a combined HK$14bn ($1.8bn) after pricing their IPOs towards the low end of guidance, according to sources close to the deals.

The African Development Bank printed an A$60m ($44m) tap of its June 2026 notes on Wednesday, as bankers predicted more Kangaroo issuance will follow this week.

China’s DFZQ, also known as Orient Securities Co, has raised HK$7.8bn ($1.0bn) from its Hong Kong listing after pricing at the bottom half of the marketing range, according to a source close to the deal.

Standard Chartered Bank has hired an executive director for its European corporate DCM team.

China Development Bank Financial Leasing Co has launched its Hong Kong IPO, covering the HK$7.6bn ($980m) float at the low end of guidance. But it has only managed to do so with mainland cornerstone investors propping up nearly 80% of the deal.