Daiwa Securities
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The Republic of the Philippines took advantage of Japanese investors’ hunger for yield with a tightly priced four-tranche ¥92bn ($863.4m) Samurai bond. -
Caisse des Dépôts et Consignations has returned to the Samurai market with what the issuer and leads said was the lowest ever coupon in the format.
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The Inter-American Development Bank this week capitalised on a dearth of supply at the 10 year point of the curve to print its second dollar benchmark of the year.
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There was high demand for dollar SSA paper as Kommunalbanken (KBN) printed at its tightest ever spread against the US Treasuries on Wednesday. Meanwhile the Province of Ontario has mandated for its own benchmark transaction.
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Kommunalbanken has mandated for a 2024 dollar benchmark, as SSA bankers say the market remains positive for new issuance.
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The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.
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Japan Bank of International Co-operation and the Municipal Finance Authority of British Columbia gave investors more ways to invest their stacks of dollars on Thursday, though syndicate bankers say the pent up demand for bonds in the currency is still far from satiated.
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Nordic Investment Bank funding officials considered printing its $1bn bond this week inside its curve before deciding against the ruse in order to support secondary trading, with Japan Bank of International Co-operation next in line to test the vast demand for five year dollar bonds.
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Viva Biotech Holdings has pulled off an impressive HK$1.52bn ($194m) Hong Kong IPO, striking retail gold as the local public swamped the deal, grabbing half of the stock for themselves. The high level of retail interest is a rarity for IPOs in the city and something that is often unwanted, bringing potential wild price swings to a stock soon after listing, say some bankers. But others foresee enough institutional demand to swallow any bulk selling in the first days of trading. Jonathan Breen reports.
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Syndicate bankers are expecting Kangaroo issuance to wane as the Japanese market shuts down this weekend for an extended holiday and Australia’s inflation outlook worsens.
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China’s Shenwan Hongyuan Group Co launched its Hong Kong IPO on Thursday, seeking upwards of $1.3bn from the sale.
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