Bank of America

The dollar corporate bond market continued to show its resilience this week, but concerns are growing over a lack of supply in the run-up to the July 4 holiday weekend.

Orange, the French telecoms company, launched €1.5bn of conventional bonds in two tranches on Wednesday, as the company’s group treasurer said he was waiting for the sustainability-linked bond market to mature before joining the quickly growing debt niche.

Dingdong (Cayman), a Chinese e-commerce company for fresh groceries, and its rival Missfresh are testing investor appetite at the same time for their US IPOs.

GN Store Nord, a Danish hearing aid maker, has signed a €350m revolving credit facility, pulling syndicated and bilateral lines into one deal.

China’s Aihuishou International, an online marketplace for second-hand electronics, traded up over 20% on its debut on the New York Stock Exchange, after sealing its IPO at the mid-point of the marketed range.

SCE Intelligent Commercial Management has hit the road with its Hong Kong IPO. It is looking to raise up to HK$2.3bn ($296.2m).

Naturgy Energy, the Spanish gas and electricity utility, has doubled the size of its revolving credit facility in an amend and extend exercise, the latest demonstration that the balance of power in the loan market remains firmly on the side of the borrowers.

GlobalCapital reveals today the winners of its Bond Awards 2021, including celebration of the achievement of top corporate banks and issuers — and Lifetime Achievement Awards for two of Europe’s most prominent corporate funding officials.

LinkDoc Technology, a cancer-focused medical data company, has filed paperwork for a $100m offering of American depository shares (ADS).

Aihuishou International, a marketplace for second-hand electronics, has kicked off a $243.5m IPO on the New York Stock Exchange.

Stellantis, the entity formed by the merger of car makers Fiat-Chrysler Automobiles and PSA Group, printed what the lead managers reckon was the longest maturity bond in euros from the sector in its ratings bracket, though the market was divided over whether peers could print similar deals.

Bank of America has set up an EMEA ESG strategic council chaired and led by three senior investment bankers, to intensify its effort to reduce its carbon footprint and manage its climate risks. BofA made a net zero commitment in February but has not yet set out its decarbonisation trajectory.