UBS
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Europe’s high grade bond market continued to pump out deals on Wednesday, with Vantage Towers raising three tranches of debt after its IPO and Japan’s Nidec selling a green trade. -
Dufry, the Swiss duty-free concession operator, has issued a new five-year Sfr500m convertible bond to help refinance the Sfr350m three-year convertible it received in April 2020 following the initial onset of the pandemic, which caused a collapse in the company’s share price.
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China SCE Group Holdings managed to raise $300m from a narrow issuance window on Tuesday, just as sentiment started to sour around the country’s high yield property bond market.
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Paragon Banking Group has concluded a liability management exercise by replacing a large chunk of its outstanding tier two debt with new green paper.
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Bilibili, a Chinese video sharing and gaming platform, has raised HK$20.2bn ($2.6bn) from its Hong Kong secondary listing, following a strong turnout from institutional investors.
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Piraeus Bank is hoping to raise €600m of additional tier one capital as part of a set of actions aimed at strengthening its balance sheet. This week’s announcement comes a few months after the Greek lender had to convert €2bn of government-held contingent convertibles into equity.
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The Hong Kong Stock Exchange has had a stellar week, hosting two secondary listings worth about $6bn in total in quick succession. The latest out of the gate is Chinese video sharing and gaming platform Bilibili, which kicked off a potential $3bn float within hours of internet giant Baidu wrapping up its multi-billion-dollar deal. Jonathan Breen reports.
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Paragon Banking Group this week became the first UK lender to launch a subordinated bond in an ESG format. The bank was looking to replace its only outstanding tier two with a new green-labelled transaction.
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Singapore's Clifford Capital returned to the offshore bond market this week to raise $500m.
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Chinese video sharing and gaming platform Bilibili is set to launch its Hong Kong secondary offering this week, after winning listing approval from the city’s bourse.
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There has been no let up in the pace of euro issuance from banks this week, with BBVA and Hypo Noe diving into another full market on Tuesday following a busy but 'comfortable' session on Monday.
