Nomura
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Indonesia’s Puradelta Lestari raised just Rph1.01tr ($76.3m) from its IPO after pricing the deal at the lowest end of expectations and slashing the number of shares by more than half. -
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The dollar market will still be the place to go for SSAs next week as the euro market comes to terms with a rampant repricing, but not every deal in the market this week fared spectacularly well.
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FIG bankers became steadily more concerned about supply prospects this week as stability in European rates looked far off.
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Nomura looks set to lose the head of its emerging market rates business in London as well as a senior trader, say market sources.
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Greece’s fudged payment to the IMF and a resumed rates sell-off has bankers already writing the week off in euros, but Pohjola Bank has shown issuers an escape route in sterling.
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It was a case of second time’s a charm for Brightoil Petroleum, with the issuer raising HK$1.30bn ($167.50m) from a top-up placement after its first attempt two months ago flopped.
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Execution risk has been pushed sky high in bank capital after NordLB, a German bank, was forced to pull an additional tier one print on Thursday, writes Tom Porter.
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NordLB put its debut additional tier one print on ice on Thursday morning, with a sharp sell-off in AT1 paper causing the leads to postpone the deal.
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Brightoil Petroleum is making a second attempt at raising funds via a top-up placement of shares, opening bookbuilding for a HK$1.046bn ($135m) deal on the evening of May 7. The company has taken a different tack this time round, launching a bigger deal with not only a fixed price but with also just one bookrunner at the helm.
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Puradelta Lestari has opened books on its Rph3.79tr ($293.28m) IPO in Indonesia, kicking off its second attempt. A shaky market could again rear its ugly head but bankers are feeling more assured this time around after the issuer agreed to a hefty discount.
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Banco Popolare’s window of issuance for the tier two deal it has been roadshowing has closed, with the issuer set to avoid the primary market ahead of reporting earnings.
