UBS
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NordLB Covered Finance Bank (NORD/LB CFB) is set to revive the sedentary Lettre de Gage (LdG) market and plans to issue its first benchmark sized covered bond. The issuer, which will take advantage of the recently updated Luxembourg legal framework, mandated leads for a European roadshow on Tuesday.
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Lenovo owner Legend Holdings is looking to list in Hong Kong during the second half of 2015 in a $2bn-$3bn IPO, with its size and diversified business expected to drive investor interest. -
Bain Capital Glory exited Gome Electrical Appliances on January 21 via a HK$1.04bn ($134.16m) overnight block, taking advantage of the last available window to execute the trade before the company goes into a blackout period. The stock was sold close to the bottom of the price range, as the private equity firm opted to keep one long-only account happy and ensure good aftermarket performance, rather than push for a higher price.
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Philippine issuers are leading the way among their southeast Asian counterparts in the block trade market, having already raised more than $600m since the start of 2015. The latest to hit the screens was JG Summit Holdings, which netted Ps8.8bn ($200m) from a top-up placement of shares on January 21.
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Just six months after Bain Capital Glory shed some of its stake in Gome Electrical Appliances, the private equity firm is back to the ECM market. This time it is looking to completely exit from the Hong Kong-listed firm via a block trade that could earn it as much as HK$1.06bn ($137m).
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Lenovo owner Legend Holdings is looking to list in Hong Kong during the second half of the year in a $2bn-$3bn IPO, with its size and diversified business expected to drive investor interest.
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Giles Borten, former head of EMEA levfin at UBS, has joined ANZ as global head of funds and insurance.
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HKBN, or Hong Kong Broadband Network, plans to start gauging investor appetite for its IPO of around $600m in early to mid-February, say bankers on the listing.
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The Swiss National Bank’s decision to abandon its euro peg on Thursday is likely to cripple earnings at Switzerland’s two international investment banks. But it could deliver an unexpected capital boost as well, changing the game as the two institutions race to meet onerous capital rules imposed in the “Swiss finish”.
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Sunrise Communications Group, the Swiss telecom firm, decided on Thursday to press ahead with its Sfr1.35bn initial public offering, even as the Swiss stock market fell nearly 9% after the Swiss National Bank unexpectedly abandoned its ceiling for the Swiss franc against the euro.
