UBS
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South Korea’s KEB Hana Bank has locked up a dual-tranche sustainability bond at zero new issue premium, appealing to investors with its strong credit story and rarity value in the public dollar market.
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Swiss speciality chemicals company Sika attracted more than Sfr6bn of demand on Tuesday evening for a mandatory convertible bond issue to finance its Sfr2.5bn acquisition of Parex, the French building materials company, from CVC Capital Partners.
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China Evergrande Group hit its size goal of $3bn with a tap of three of its existing bonds, a strategic decision by the property developer. But the issuance dented its secondary curve as noteholders fled to the juicier new transaction.
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Online property agent Shenzhen Fangdd Network Technology is looking to raise up to $500m from a listing in the US, according to a banker close to the deal.
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China’s Maoyan Entertainment has changed the timetable of its HK$2.7bn ($344.2m) IPO and roped in three new cornerstone investors, including smartphone giant Xiaomi Corp.
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Takeaway.com, the Dutch online food ordering company, hit the market on Thursday night with its pre-announced sale of new shares and convertible bonds to fund its €930m acquisition of Delivery Hero’s German operations. Both tranches of the trade attractive significant demand.
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Country Garden Holdings (CoGard) raised $1bn from a two-part deal, hitting its size goal and finding the money it needs to refinance some of its maturing debt.
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China-based Maoyan Entertainment, best known for its online movie ticketing platform, kicked off bookbuilding on Friday for a HK$2.7bn ($344.2m) IPO.
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Given the uncertainty created by Tuesday’s Brexit vote, the issuance frontloaded into the Swiss franc market at the start of the week was dominated by domestic borrowers.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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Diego De Giorgi has left his post as global head of investment banking at Bank of America Merrill Lynch, less than four months after his boss and close ally Christian Meissner was ousted as head of corporate and investment banking (CIB) at the US bank.
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