UBS
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On Wednesday Aroundtown became the seventh property company in the last month to sell bonds in Europe. It followed the trend of its peers by extending the maturity profile of its debt with a €500m 8.5 year transaction.
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Jackson National Life (JNL), the US insurance company, was drawn to the Swiss market on the strength of an attractive basis swap, which allowed the eight year bond to be priced some 10bp-15bp within the firm's dollar funding curve.
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New issue momentum in Asia’s debt market continues to be strong with Powerlong Real Estate Holdings and China National Chemical Corp (ChemChina) collecting bids on Wednesday, as Sinochem International Corp prepares to hit the road.
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Oceanwide Holdings International and Metallurgical Corporation of China (MCC) snagged investors on Monday for their new bonds, with the former going for a 363-day deal despite having regulatory quota for a longer transaction, while the latter capitalised on strong demand for its recent trade to bag $500m from a tap.
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South Korea’s Nonghyup Bank reeled in investors for its $500m five year bond at the start of the week, pricing the notes flat to its existing curve.
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Tuesday is yet another busy day for China DCM, with Bright Food (Group) Co, Greentown China Holdings and Central China Real Estate in the market for bonds, while China Railway Group is set to meet accounts for its return to the international debt market.
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NetLink Trust has priced Singapore’s largest listing in five years, raising S$2.3bn ($1.7bn) from a well covered book after global yield-focused investors piled in.
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South Korean agricultural lender Nonghyup Bank began marketing a five year dollar transaction on Monday morning, returning to the debt market after about nine months.
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Oceanwide Holdings International is joining the rush of issuers selling bonds with tenors of less than one year, marketing a 363-day Reg S transaction to refinance debt.
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Two shareholders pared down their stakes through separate block trades on Thursday as the stocks hit one-year highs, punctuating a relatively quiet week for overnight bookbuilds in Asia.
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Fixed income dollar accounts will soon have the opportunity to buy new names from China’s financial sector and southeast Asia's coal mining industry, with three debut issuers set to roadshow in Asia, Europe and the US next week.
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In one of the liveliest weeks for Polish IPOs for years, Raiffeisen Polska’s flotation was pulled, debt collector GetBack priced its listing at the bottom of the range, and Play Communications, the mobile phone company, achieved a covered book on the market’s biggest IPO for five years.