Banks

Italian football club Juventus has finished its €300m rights issue, which is intended to strengthen its balance sheet after an annual loss in 2018.

Enagas, the Spanish natural gas transmission company, raised €500m of new capital market on Wednesday night to help fund its acquisition of a stake in US firm Tallgrass Energy.

Citi has named Adrian Khoo and Benjamin Ng as co-heads of debt capital markets for Asia, a move that will see more integration of the bonds and loans teams.

JP Morgan Securities (China) has received the securities and futures business permit from the China Securities Regulatory Commission, which will allow it to begin operations in the Mainland.

India’s Power Finance Corp has wrapped up its $300m-equivalent dual-currency loan with nine banks on board.

Bond investors are set to start the new year with some trepidation, due to uncertainty around the US-China trade relationship and rising defaults in the Mainland. While there will be opportunities, not all issuers will have easy access to liquidity as buyers turn selective.

Indian chemical manufacturer Rossari Biotech has filed draft documents for an IPO, which it is planning to launch in the first quarter next year, according to a source close to the deal.

Indonesian company Astra Sedaya Finance has closed a loan of around $200m that mainly targeted liquidity among Japanese banks.

In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out which firms have been named the Best Asian Investment Bank and the Best Investment Bank in the region for 2019.

Southpaw takes a sideways look at some of the big events that defined investment banking in 2019.

MTN bankers are tipping Formosa and senior non-preferred debt for big things in 2020. Both markets, along with MTNs as a whole, have had an underwhelming year as issuance failed to live up to the promise of a busy 2018.

Lenovo Group, one of the world’s largest computer and electronics makers, lost a long time financing partner when IBM decided to close its factoring operation for hardware equipment manufacturers in February, GlobalCapital can reveal. But Lenovo moved fast to replace this with one of the largest trade receivables securitizations ever signed. The $3bn deal included selling junior notes to three investors to maintain full off balance sheet treatment for the assets and debt.