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Telecoms firm Telefónica and utility Iberdrola showed the depth of demand for green hybrids this week, with both Spanish companies building large order books.

Thailand’s PTT Oil and Retail Business scooped up Bt54bn ($1.79bn) this week from the country’s largest IPO in a year. The deal was a hit with both domestic and foreign investors — but in a somewhat unusual twist, the issuer cut the entire international public book during allocation. Jonathan Breen reports.

Telefónica, the Spanish telecommunications company, showed the depth of demand for green hybrids on Wednesday, with a seven times oversubscribed trade that came a day after a similarly successful deal from compatriot issuer Iberdrola.

Iberdrola, the Spanish utility, received booming demand for its green hybrid on Tuesday, as the combination of a higher yield and green debt helped books swell to €9.5bn.

Tyco Electronics, the US-Swiss connector technology firm, kicked the week off in Europe’s high grade corporate bond market with a well received deal on Monday, as more euro issuers line up.

CDH Investments has pocketed HK$1.81bn ($232.m) after offloading a chunk of shares in Topsports International Holdings, a Chinese sportswear retailer.

Brookfield Asset Management is set to launch India’s third real estate investment trust IPO next week, as it aims to raise Rp38bn ($520.8m) from a mix of new and existing stock.

Europe’s corporate bond investors had the chance to pick up some paper from the riskier end of their credit spectrum as the week began, with Portuguese power company Energias de Portugal (EDP) and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.

Chinese video-sharing platform Kuaishou Technology is generating huge demand for its IPO, which could be worth as much as HK$42bn ($5.4bn). The deal, set to be the largest primary listing globally since 2019, shows the growing interest around short video companies. Jonathan Breen reports.

Flex, the US-Singapore electronic component maker, has signed a $2bn revolving credit facility, in what leads are describing as the first ESG-linked syndicated revolving credit facility for the US technology sector.

Europe’s corporate bond investors had the chance to pick up some paper from the hairier end of their credit spectrum as this week began, with Portuguese power company Energias de Portugal and Swedish housing firm Heimstaden Bostad out with hybrid capital issues.

Chinese video-sharing platform Kuaishou Technology, a rival to TikTok parent ByteDance, has started testing investor appetite for Hong Kong's largest IPO in over two years as it seeks HK$42bn ($5.42bn).