Banks

Singapore-listed real estate company CapitaLand Commercial Trust has raised S$220m ($162m) from a private placement to fund an acquisition in Germany.

Hong Kong’s New World Development (NWD) sold an additional $400m of 6.25% senior fixed-for-life perpetual bonds on Wednesday, taking advantage of a “constructive” market for such structures.

China’s DouYu International Holdings ended a three month journey to a Nasdaq listing this week, closing the biggest Chinese deal on the exchange this year. The company was forced to price the shares at the bottom of guidance, but returned with a much bigger size than originally planned. Gina Lee and Jonathan Breen report.

Just 16 days after Laurentino Cortizo took office as president, Panama tapped the bond market for its largest ever deal. The government said it needed to raise funds to make overdue payments.

HSBC China has appointed Zuocheng Ding as head of loan origination, according to a source close to the situation.

Ithaca Energy, a UK-based oil and gas operator, revised its bond terms to placate investors this week — marking a rare victory for the buy-side in a market that has offered ever weaker protection. Buyers for the bonds had been prepared to swallow Ithaca's original proposals, but demanded a double digit yield to do so, forcing the borrower to back down to hit its target price. Karoliina Liimatainen reports.

Investors pumped €2.25bn of demand into Italgas’s €600m 10 year note on Wednesday, leaving the deal nearly four times covered. That was despite a soft economic background and the more muted €1bn of demand Goodman European Partnership, the logistics Reit, had got on Monday for its €400m 10 year no-grow bond.

Left lead Barclays dropped the floating rate sterling tranche from the high yield bonds for Domestic & General’s fundraising to refinance old debt and pay a dividend to its old owners, replacing it with a smaller euro floater and a large fixed-rate issue.

World Bank hit the Canadian dollar market on Wednesday to begin its 2019/20 benchmark funding programme. It followed the European Investment Bank and KfW which have also been active in non-core currencies this week.

Impala Platinum Holdings, the South African platinum mining company, has launched a tender offer to convert its outstanding 3.25% $250m June 2022 convertible bonds into equity, after a massive rally in its share price over the last year.

Italy’s Salini Impregilo is pushing ahead with plans to buy compatriot troubled construction rival Astaldi after getting the preliminary nod from financiers, with the acquiring company set to raise €600m among a raft of funding agreements.

Lloyds Bank was able to increase the size of its second dollar covered bond issued on Wednesday — its second deal in this market in the last year. In doing so, it still managed to pay a minimal new issue concession.