Bank of America

Europe’s high grade corporate bond market ignored a deeply red day in equity markets on Tuesday, and Volkswagen Leasing and Eurofins Scientific got a decent run at printing new debt.

A smattering of European investment grade companies are lining up bond issues, as May continues to bring the turnaround in issuance levels that the market had been hoping for in the run-up to the UK bank holiday at the start of the month.

Chinese health insurance and healthcare crowdfunding platform Waterdrop has raised $360m after pricing its US IPO at the top of the marketed range.

Ceconomy, a German consumer electronics company, has signed a €1.06bn revolver linked to sustainability metrics, becoming the latest corporate to repay state support loans taken out during the worst of the coronavirus pandemic.

Green bonds took centre stage in the US corporate bond market this week, as issuance began to mount again after the recess for earnings blackouts. No less than three deals paired green and conventional tranches.

The demand for sustainability-linked bonds was made clear on Thursday, as French minerals company Imerys’s deal commanded more than double the demand of Swedish property firm Sagax’s conventional trade, despite sharing big similarities.

Euronext, the Dutch-registered, Paris-headquartered stock exchanges group, brought a €1.8bn triple tranche bond issue on Thursday. Investors showed much larger appetite for the shortest maturity as inflation fears linger.

Hong Kong-based Summit Healthcare Acquisition Corp has set the ball rolling for a Nasdaq IPO of about $200m.

JD Logistics has begun pre-deal investor education for its multi-billion-dollar Hong Kong listing, having won approval from the city’s bourse last Friday.

China’s Waterdrop, a health insurance and healthcare crowdfunding platform, has opened the book for an up to $360m New York Stock Exchange IPO.

Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.

Issuers piled into Europe’s high grade corporate market on Wednesday but investor responses were mixed when it came to the deals at the tightest spreads.