UBS
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The Export-Import Bank of Korea returned to the Swiss franc bond market on Thursday, capitalising on an arbitrage window against its dollar curve. -
Wise Talent Information Technology, owner of recruitment website Liepin.com, has opened books for its up to HK$3.1bn ($398.1m) Hong Kong IPO.
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Industrial and Commercial Bank of China (Asia) on Wednesday priced a triple-tranche green bond. But the deal, comparatively smaller than recent issues at $730m equivalent, had a moment of intrigue when one global co-ordinator left the syndicate group.
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Bank of China Group Investment (BOCGI) is returning to the Panda market after a year-long absence. Unlike the last transaction, the issuer will sell the bond on the Shanghai Stock Exchange, instead of the interbank bond market, marking its first outing on the exchanges.
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China Aoyuan Property Group raised a larger than planned $225m from a tap of its existing note on Monday, but had to pay up for the transaction. A Chinese local government financing vehicle (LGFV), on the other hand, fell short of its size expectation.
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Del Monte Pacific has shelved the Ps17.6bn ($334.5m) IPO of its subsidiary Del Monte Philippines citing poor market conditions.
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Nestlé issued Sfr1.5bn ($1.5bn) of Swiss franc bonds on Thursday. The Swiss food company proved the market is wide open for well known, high quality credits, said market participants.
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KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility.
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SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.
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Hong Kong was a hotbed of accelerated bookbuild activity this week as two biotechnology firms and a property developer raised a combined HK$6.7bn ($854m) in primary and secondary equity.
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UBS appoints Asia DCM syndicate heads – BNP’s SEA loan syndicate head to relocate – Morgan Stanley’s ECM co-head dies at 41 – Goldman DCM banker moves to Macquarie – CMS’s Chien moves to buy-side – Citi builds Oz team – Wong leaves HSBC
