Search results for

The international leg of the roadshow for the 707m share Bank Thai privatisation has finished. A pricing range is to be set today (Friday) ahead of a domestic and international institutional bookbuild that should be complete by the end of September. The government is selling the equivalent of 47% of Bank Thai, reducing its stake from 96% to 49%. Foreign and domestic fund managers say the offering is effectively an IPO, and are therefore targeting a price range far below current market levels for the stock.

Bumiputra Commerce Bank (BCB) is poised to mandate a $200m 10 year non-call five tier two subordinated bond issue. The Malaysian bank sent out requests for proposals two weeks ago. Bankers say BCB is on the verge of announcing its decision. The shortlist of banks consists of Citigroup/SSB, HSBC, JP Morgan and Morgan Stanley. The winner will act as a joint lead manager with CIMB, the investment banking arm of BCB's parent company, Commerce-Asset Holding. BCB should announce the winner either today (Friday) or early next week.

Allgemeine HypothekenBank Rheinboden (AHBR) made a successful return to the capital markets last Friday (September 6) with its first jumbo issue since its mortgage Pfandbrief rating was downgraded from Aa2 to A1 by Moody's in May. The mortgage bank priced its 3.75% September 2005 issue at the wide end of the 16bp-19bp price guidance announced when the deal was launched, and increased the issue size from the planned Eu1bn figure to Eu1.25bn. Pricing had initially been expected early this week, but was accelerated because of the speed with which the order book for the pot transaction grew.

Rating: A1/AAA/AA+ Amount: Eu1.25bn Hypothekenpfandbrief series 337

On behalf of my daughter, Georgina, and myself, I would like to thank our friends in the Euromarkets who have sent dozens of letters and more flowers than you will find in a garden nursery following the very sudden and totally unexpected death of my wife, Vanessa. On Wednesday morning last week, she complained of feeling faint and having a headache. Although we called for an ambulance, there seemed to be no cause for undue concern. However, an hour after arriving at the hospital she had a massive brain haemorrhage. Within the space of three hours the wonderfully vibrant, vivacious and always healthy Vanessa was not only critically ill, but according to the doctors, had only a one in 10 chance of survival - mercifully, she was completely unconscious when Georgina and I were told.

Rating: Aa3/AA-/AA- Amount: $250m

Rating: Aaa/AAA/AAA Amount: Eu1.5bn

Banco do Brasil achieved a small but important milestone this week by becoming the first Brazilian issuer this year to price a structured bond transaction without a triple-A wrap. Although only $40m in size, the deal, led by ING, demonstrates that Brazilian structured deals are possible at a time when all three monoline insurers are rejecting Brazilian corporate and bank pleas for triple-A wraps.

Rating: Aaa/AAA/AAA Amount: R150m (fungible with R150m issue launched 13/03/02)

Rating: Aa2/AAA Amount: Eu100m Hypothekenpfandbrief series 50011

Rating: A2/A/A+ Amount: Eu500m