Banks

Due to the lack of new issuance for over a week in the European corporate bond markets, the vote of no confidence in UK prime minister Theresa May was the talk of both the buy and sell sides on Wednesday morning. But there has been little effect on the market itself so far where political developments in other European states are more of a concern.

With the UK in turmoil just over three months before its date of departure from the European Union, a core section of the bank bond investor base is refusing to get out of its sizable position in UK bank debt.

Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets.

Citi has appointed a new head of Thailand corporate and investment banking (CIB), hiring a senior banker from HSBC.

Three Chinese local government financing vehicles (LGFVs) managed to push out last-minute dollar deals before the year end on Tuesday, while property developer Kaisa Group Holdings raised $300m from a 365-day bond at a double-digit yield.

Housing Development Finance Corp is taking the Samurai loan route for its second syndicated financing of the year.

Like many recent IPOs in Hong Kong, Chinese telecommunication software provider AsiaInfo Technologies has also priced its listing at the bottom of the indicative range, raising HK$900m ($115m).

Chongqing Nan’an Urban Construction and Development Group Co kept the order book for its dollar bond open for an extra day before raising $300m this week.

Hungary is planning to sell a Rmb2bn ($290m) three year Panda bond on December 17, becoming the first and only sovereign returnee to the market.

Banks are close to registering the quietest quarter in a half a decade for sales of subordinated bonds in euros, after a gruelling period for trading in the secondary market.

Danish logistics company Maersk gave investors something other than political and economic matter to consider this week when it announced a tender offer for its shortest dated euro bonds on Monday.

Anta Sports Products has mandated six banks for a €2.2bn loan to back the €4.6bn acquisition of Finnish sports brand Amer Sports Oyj.