Banks

Westpac New Zealand was able to steer its first green bond through the market on Tuesday, even as yields plummeted on the back of suggestions that the European Central Bank could be preparing new stimulus measures. The deal was the issuer’s first fixed rate senior bond in euros for over nine years.

Chinese property manager JY Grandmark Holdings is looking to raise up to $200m from an IPO in Hong Kong, according to a source close to the deal.

Nasdaq-listed Chinese social media platform YY hit the market with an $850m dual-tranche convertible bond on Wednesday.

Biotechnology company WuXi Biologics Holdings has completed a HK$3.81bn ($487m) sale of a part of its stake in subsidiary WuXi Biologics (Cayman), its second sell-down in the stock in less than three months.

China’s Jinxin Fertility Group has raised HK$2.99bn ($381.9m) from its Hong Kong listing after riding a wave of investor demand for healthcare stocks.

Greenland Holding Group Co tackled a July maturity by raising $500m from a bond on Tuesday, but the company still has more refinancing pressure in the near term.

The Export-Import Bank of Korea (Kexim) sealed a $1bn transaction on Tuesday with a combination of floating and fixed rate notes, on the back of a nearly seven times subscribed deal at its peak.

India’s IndusInd Bank is paying up for its latest loan, after an aggressive price cut for its previous fundraising in 2018.

Investors hoovered up two German hybrid capital issues on Tuesday, in a receptive market spurred on by dovish comments from European Central Bank president Mario Draghi. They were of very different stripes: a €1.5bn dual tranche issue from Merck, the pharmaceutical company, which was about 7.5 times covered, and a £400m issue from Aroundtown, the property company.

Citi will integrate its foreign exchange and local markets operations with its G10 rates unit, to form a single rates and currencies business.

ICBC has mandated banks to arrange an up to $400m-equivalent green loan for its London branch, in what the borrower has labelled the first ever deal for a Chinese bank that follows the Green Loan Principles.

Vue International’s revamped refinancing has tightened doc terms and pricing at the same time, ahead of commitments later on Tuesday, making it harder for part-owner Omers to take money out through its sub-debt —while also narrowing the OID and testing tighter pricing. The issuer may also include a sterling carve-out.