UBS
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Cikarang Listrindo could raise Rph6.3 ($464m) from its IPO, thanks to strong demand that has covered a potential 33% increase option, according to a source close to the deal. -
Axis Bank is on track for its debut green bond, marking the third dollar green offering to be sold by an Indian borrower.
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Erste Bank, the Austrian lender that failed to pay a coupon on legacy tier one debt just 18 months ago, this week mandated leads for an inaugural additional tier one transaction that could be one of the juiciest trades ever to hit the market.
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China Oceanwide Holdings has added $200m to its five year bond issued last year, taking advantage of the note’s strong performance in the aftermarket.
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In the latest signs of ill health among banks, which have experienced a rough ride in capital markets this year, UBS analysts on Tuesday named BBVA, Svenska Handelsbanken and Standard Chartered as their least preferred names in a sector that is now cheaper than every other, apart from autos, after a damaging earnings season.
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Italy sold a super rare short-dated syndication this week, but a debut 50 year benchmark — a growing trend for sovereigns this year — looks to be some way off.
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Norwegian issuer SR Boligkreditt and New Zealand borrower Westpac NZ will both take new euro deals on the road before the end of May, and the UK’s TSB has confirmed covered bonds will form part of its long term funding.
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Landesbank Baden-Württemberg has issued the first European covered bond denominated in dollars this year, boding well for further supply from European banks in the currency.
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Zhejiang Geely Holding Group is set to sell its first dollar-denominated green bond on Thursday that comes with a standby letter of credit from Bank of China’s London branch. The offering marks the third dollar green debt to be sold by a Chinese issuer.
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Shares in Van Lanschot, the Dutch investment bank that is transforming itself into a pure wealth manager, have traded fairly stably as its ‘re-IPO’ has been announced and got under way this week.
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Italy brought a rare syndicated effort at the short end of the euro curve on Wednesday, but there was little sign that the unorthodox approach disturbed investors as it built an oversubscribed book at a punchy price.
