Bank of America

Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.

Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.

Meituan, a Chinese food delivery company, raised $10bn this week from a combined equity placement and convertible bond issue. Investors flocked to the deal for the investment grade rating and the offer of a highly liquid and volatile stock. Jonathan Breen reports.

Chinese financial technology platform Futu Holdings has raised $1.24bn from a follow-on offering of its American depository shares (ADS). The issuer was able to navigate volatile markets thanks to support from a large global fund.

The controlling shareholder of Anta Sports Products has offloaded some of its stake through a HK$11.57bn ($1.49bn) block trade, capitalising on recent gains in the sportswear company’s stock.

Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.

India’s Glenmark Life Sciences, a pharmaceutical ingredients maker, has filed draft paperwork for an IPO of new and existing shares.

Thai Beverage has postponed the multi-billion-dollar spin-off and listing of its brewery unit in Singapore, citing choppy markets and a surge in Covid-19 cases in Thailand.

US investment banks have set a high bar for their European rivals by posting record revenues powered by a boom in capital markets underwriting.

Total Produce, the Irish fresh produce company, has signed $1.44bn of loans to finance its transatlantic merger with US fruit and vegetable producer Dole Food Company.

Anjuke Group, a Chinese real estate services platform that is backed by high profile investors like Tencent Holdings, Warburg Pincus and General Atlantic, is seeking approval for a Hong Kong IPO.

Marvell Technology, the Bermuda-registered US chipmaker, jumped into the dollar bond market this week with a $2bn trade linked to a $10bn acquisition, after clinching the deal more quickly than expected.