Goldman Sachs

African Development Bank and New Development Bank received ample demand in the primary dollar public sector bond market on Thursday, allowing the supranational borrowers to print chunky deals.

African Development Bank and New Development Bank will add to the week’s dollar SSA bond supply on Thursday. The lack of issuance in the currency in June is helping to boost sentiment in the market despite a rocky rates backdrop.

Goldman Sachs celebrated its second highest ever firm-wide quarterly net revenues, net earnings and earnings per share on Tuesday. It set the as-yet unbeaten net revenue record in the first quarter of the year.

Arabian Centres, the Saudi Arabia shopping centre operator, is set to tap its dollar sukuk. The recent drop in US rates, combined with the anticipation of rising rates later in the year, has provided impetus for emerging market issuers to enter markets.

Shares in Wise, the UK fintech group, had traded up more than 22% by Friday afternoon compared to the price at which it completed the first ever direct listing by a technology unicorn on the London Stock Exchange on Wednesday. Equity bankers hailed the transaction as an alternative route to going public when the IPO market is difficult but the list of companies that could do such a deal is short, writes Aidan Gregory.

Realty Income Corp, the US real estate investor, made its debut in the green bond market on Thursday with a sterling deal, with the issuer pricing its first foray into the structure inside its own curve.

Xiaomi Corp sold an $800m 10 year bond and a $400m 30 year bond this week amid a difficult market for Chinese bonds and technology companies. But the mobile phone maker's green tranche, as well as its business model, attracted investors and allowed for tight pricing. Morgan Davis reports.

Sterling investors had their choice of ultra-long dated corporate bonds on Wednesday, as charitable foundation the Wellcome Trust and Flagship Housing Group printed 50 and 40 year paper, respectively.

A trio of green labelled debuts attracted “slim” demand on Wednesday, as the three senior deals had to compete with a flurry of other trades for a slice of the shrinking pre-summer investor pool.

PizzaExpress is looking to raise sterling bonds to refinance its capital structure, after bondholders took control of it last year from Chinese private equity group Hony Capital.

France is preparing a 30 year OAT syndication, capitalising on a market that seems eager for paper that has snapped up an EFSF tap with an order book more than eight times subscribed.

South Korea’s busy IPO market is continuing to pump out deals, with the latest listings coming from Kakao Pay and Covid-19 test maker SD Biosensor. But issuers still have to be realistic, as Krafton found out when it shot for, but missed, the country’s largest ever IPO.