Macquarie Group

Macquarie achieved a decade low print for a five year Australian dollar floater this week, as the lack of supply from financial issuers in 2020 has sent spreads grinding downwards.

Deal arrangers expect that next week will be the last real window for issuance in 2020, with investors set to close down activity from the middle of December.

New Oriental Education & Technology Group is set to raise HK$10.1bn ($1.3bn) as it guides investors toward final pricing for its secondary offering in Hong Kong.

New Oriental Education & Technology Group, one of China’s largest private education companies, has kicked off bookbuilding for a Hong Kong secondary listing worth around $1.4bn.

United Overseas Bank achieved the tightest spread for a five year floating rate bank issue in Australian dollars in over 10 years this week, issuing A$750m ($532.0m) to prove that there is still demand at decade-low levels.

A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.

The booming IPO market for special purpose acquisition companies (Spacs) is continuing with a new London-based blank cheque company focused on education technology.

JHBP (CY) Holdings, a holding company for China’s Genor Biopharma, hit the road for its Hong Kong IPO on Wednesday. It is aiming to raise up to HK$2.9bn ($371.2m).

Cathay Media and Education Group is set to wrap up bookbuilding for its Hong Kong IPO two days early, on the back of strong demand from institutional investors, according to a source close to the deal.

China’s Archosaur Games set in motion its HK$2.17bn ($280.5m) IPO on Tuesday, joined by Cathay Media and Education Group and poultry producer Shandong Fengxiang.

Online casino gaming company DoubleDown Interactive has set the terms for its Nasdaq IPO, preparing the first South Korean listing on a US bourse in nearly a decade.

Two recent policy changes from the Reserve Bank of Australia (RBA) spurred a pair of foreign banks to scoop A$3.2bn ($2.2bn) from the bond market this week. An expansion of repo-eligibility and a term funding facility for domestic banks have freed up the funds to drive the bumper deals, according to a banker at one of Australia's big four banks.