Bank of America

Chinese streaming platform Bilibili returned to the equity-linked market on Thursday, kicking off bookbuilding for a $650m convertible bond, according to a source familiar with the matter.

Burning Rock Biotech is planning to float on Nasdaq for as much as $100m.

Bank of America has promoted Anvita Arora to co-head of Asia Pacific equity capital markets, according to a memo seen by GlobalCapital Asia.

Chinese internet giants JD.com and NetEase are targeting mid-June to launch their respective Hong Kong listings, according to sources familiar with the matter.

Italy’s Ferrari in euros and the UK’s Southern Water Services in sterling won strong demand for new bonds on Wednesday, but the slowdown in issuance has got some syndicate officials wondering if the market is already winding down for summer.

The slowly reopening European high yield market faced another test on Tuesday, following Sappi’s decision to pull its planned issue at the end of last week. Data centre and cable network firm Cogent was raising an B3/B- rated add-on in order to pay a dividend. The company is too leveraged already to allow a dividend under its existing bond docs but is using a "temporary deleveraging" and escrow structure to work around them.

High grade corporates poured into the primary market on Monday, with sentiment noticeably higher as the first trial for a Covid-19 vaccine in the US and easing of lockdown restrictions in Europe cheered markets.

Zhongsheng Group Holdings tapped the equity-linked market for HK$4.56bn ($588.4m) this week to repurchase an outstanding convertible bond. The firm found strong demand from the usual sets of investors but also got new names looking for defensive opportunities. Jonathan Breen reports.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, and Legend Biotech Corp both set the ball rolling for Nasdaq IPOs this week.

High grade corporate bond investors showed few signs of fatigue on Wednesday, as deals commanded comfortable oversubscription, despite the flurry of issues in recent days.

High grade corporates filled the primary bond market again on Wednesday, with issuance levels this week looking likely to hit almost €20bn on the back of record weekly European Central Bank bond buying.

Zhongsheng Group Holdings has pulled off a HK$4.56bn ($588.3m) convertible bond and repurchase of an outstanding CB, increasing the deal size on the back of demand from existing bondholders.