UBS

New funding possibilities in the Swiss franc bond market for lower rated issuers have been opened up by a ground-breaking Sfr300m issue for YPF, the Argentine state oil company, writes Silas Brown.

Nets, the Nordic digital payments processor, fell on its first day of trading in Copenhagen, after completing a Dkr15.75bn ($2.4bn) IPO that won very strong demand and was priced highly.

National Bank of Canada issued a rare seven year euro covered bond on Thursday and although it offered virtually no concession, it was highly subscribed, despite secondary market profit-taking.

Postal Savings Bank of China (PSBC) made waves in the market this week, bringing its HK$57.6bn ($7.4bn) IPO in Hong Kong to a close as a third of investors were zeroed from the world’s biggest float in two years.

Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand.

Telxius, the telecoms infrastructure division of Telefonica, has signed a €190m with the 10 banks which are arrangin its IPO, for which books opened yesterday.

Postal Savings Bank of China has raised HK$57.6bn ($7.4bn) from its Hong Kong IPO after pricing the shares off the bottom of the range, with allocations dragging late into Wednesday evening.

Several European IPOs are progressing through bookbuilding this week, as issuers take advantage of a window of calm before the uncertainty of the US election in just over seven weeks time.

On Tuesday, September 20, GlobalCapital held its annual Global Derivatives Dinner at Banking Hall in London and revealed the winners of its Global Derivatives Awards for 2016.

Postal Savings Bank of China has narrowed the price range on its Hong Kong IPO to the bottom half of guidance, and is set to raise up to HK$58.8bn ($7.6bn) in the world’s biggest listing in two years.

Takeaway.com, the Dutch online fast food delivery service, has opened the books for its €350m IPO, with a price range that could value the company at up to €1.1bn.

Thailand’s CP Foods Holdings has raised $300m from an exchangeable bond, returning to the equity-linked market after a hiatus of nearly three years.