Bank of America

Europe’s high grade bond market provided some mixed indications of sentiment on Monday with the deals for Takeda and SEE seeing notable differences in demand, leaving syndicate bankers trying to work out what this means for what is expected to be a busy week of issuance.

Anheuser-Busch InBev, the world’s largest brewer, received far below the €5.3bn-equivalent it had offered to buy back through a tender offer, as analysts still expect its leverage to remain at nosebleed levels for a company with a BBB+ rating.

Agora is looking to raise up to $315m from its Nasdaq IPO, having begun bookbuilding for the deal.

Kangji Medical Holdings has bagged HK$3.59bn ($464.2m) after pricing its Hong Kong listing at the top of the marketed range.

Online casino gaming company DoubleDown Interactive has set the terms for its Nasdaq IPO, preparing the first South Korean listing on a US bourse in nearly a decade.

BP, the UK oil company, completed the biggest ever hybrid bond sale this week with a $12bn-equivalent debut issuance across multiple currencies, leading to rising expectations that other oil majors without hybrid debt will be entering the market too.

BP, the UK oil major, has announced its debut hybrid trade with a multi-tranche triple currency deal mandate. The borrower was looking to steady its credit ratings a day after warning that it was going to write-off up to $17.5bn of assets.

Hygeia Healthcare Holdings has kicked off the roadshow for its up to HK$2.22bn ($286.4m) IPO, joining Hong Kong’s increasingly hot listing market.

Kangji Medical Holdings kicked off bookbuilding for its Hong Kong listing on Monday, aiming to raise up to HK$3.12bn ($404m) in proceeds.

Transition bonds were the hot idea of 2019 in green finance circles, appearing to offer a way to expand themed bonds to a much wider range of issuers. But the product has struggled to gain momentum. This week’s deal from Snam, the Italian gas grid company, confirmed that it has an audience, among both issuers and investors.

Belle International pocketed HK$2.91bn ($375m) this week after trimming its stake in subsidiary, Topsports International Holdings.

Chinese e-commerce company JD.com is set to raise HK$30.1bn ($3.87bn) from its Hong Kong secondary listing, according to a source familiar with the matter.