Bank of America

InterContinental Hotels (IHG), the UK hotel group, sold sterling and euro debt on Thursday without paying a concession, as market technicals and the potential for a substantial coupon increase proved enough to sweep away investors’ concerns about the sector.

Japan Tobacco lit up the corporate market on Wednesday with its debut euro hybrid. The borrower built an order book six times the deal size, despite some parts of the market claiming that investors are shunning the sector.

The UK’s InterContinental Hotels and Italian airport Società Esercizi Aeroportuali have mandated for bond issues, giving investors another attempt to pick up some potentially higher yielding debt than has been on offer recently.

JD Health International, the healthcare unit of Chinese e-commerce company JD.com, has submitted an IPO application to Hong Kong’s stock exchange.

China Yangtze Power has raised $1.8bn from a smaller-than-expected offer of Global Depositary Receipts in London, sealing only the third listing through the London-Shanghai Stock Connect scheme.

Biopharmaceutical firm Everest Medicines has hit the road for its up to HK$3.5bn ($451m) Hong Kong IPO.

The frenetic pace of the high-grade dollar bond market slowed on Thursday as investors showed signs of indigestion.

Medtronic, the US medical devices company, garnered more than €19bn of demand for a €6.25bn six tranche bond issue on Thursday, including a sizeable oversubscription for the 30 year tranche, which some syndicate officials had said might be tough to place.

Informa, the UK publishing and events business, has said it is considering paying back its private debt placements and issuing bonds instead. Companies tend to avoid early repayment in the PP market because of the cost of makewhole payments, but several market sources said Informa was trying to extricate itself from financial covenants.

Medtronic, the US medical devices company, has mandated banks for a multi-tranche euro bond at a time when European investors are demanding higher spread concessions from Reverse Yankee borrowers than local issuers.

Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

JD Health International, the healthcare arm of Chinese e-commerce firm JD.com, is set to list on Hong Kong’s stock exchange by the end of the year.