UBS
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Petron Corporation Employees’ Retirement Plan sold a $120m stake in Petron Corporation overnight on Wednesday, increasing the transaction size by $20m due to a high level of long-only demand. -
Sweden’s Stadshypotek returned to the covered bond market on Monday, pricing a five year deal with the tightest spread in at least three years for any covered bond issuer outside of Germany.
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Beijing based iKang Healthcare Group opened books for its $153m Nasdaq listing on Wednesday, offering investors exposure to one of the fastest growing industries in China.
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mBank, Commerzbank's Polish unit, issued a €500m five year bond this week, in a deal that successfully struck a balance between emerging market and investment grade specialists. The issuer trades too tight for some emerging market accounts and is not a natural choice for investment grade buyers but drew enough demand from both groups to price an oversubscribed bond with only a minimal new issue premium.
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Italy’s UniCredit is about to become the first bank to sell an additional tier one deal since KBC Group’s transaction pushed market boundaries two weeks ago. UniCredit's deal also follows a period of repricing during which investors have pushed back on yields.
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China Construction Bank (Asia) priced its debut dollar issue on Tuesday night in a market that was digesting a spate of negative China headlines, including a bank run and a string of poor economic data.
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Shanghai Fosun Pharmaceutical Group has priced a HK$1.76bn ($227m) private placement to raise funds for debt repayment and to finance potential M&A.
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Bond and equity activity slumped in the first quarter of this year with both posting double digit falls in trade volume. However there are some bright spots with offshore renminbi activity reaching a record and technology stocks in vogue.
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Cable firm Polska Multimedia launched an IPO on Wednesday, as the sector continues to drive ECM issuance across Europe.
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The world’s largest pork processor WH Group, or formerly known as Shuanghui International, now has a record 28 banks working on its jumbo $5bn-$6bn IPO, according to bankers on the transaction.
