Banks

German business software company SAP used its rarity value when it printed a €1.5bn triple tranche deal in March. However, that strategy may no longer be possible, after it sold the largest ever corporate bond priced in December to help fund its recently announced €8bn cash acquisition of experience management software provider Qualtrics.

Mizuho International, the London securities and investment banking arm of the Japanese banking group, has cut jobs in its capital markets business over the past week, and among those leaving is a senior DCM banker.

HSBC appoints co-CEOs for PRD — Kwan returns to banking

After its successful debut in the Chinese ABS market, Genius Auto Finance, the joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, scored an equally popular follow-up deal at an even tighter price.

The Republic of Indonesia seized an opportunistic window after the G20 summit to raise $3bn in its annual dollar funding exercise. While the issuer’s timing was impeccable, it was still forced to pay a double-digit premium to attract cautious investors. Morgan Davis reports.

Three Chinese education companies have ventured out for new loans, adding a dash of diversity to the syndication market. But they come at a time when lenders are increasingly conservative about the sector, owing to stricter regulations and amid concerns around borrowers’ financial performance, writes Pan Yue.

WuXi AppTec is set to raise about HK$7.9bn ($1.1bn) from pricing its Hong Kong listing at the mid-point of the indicative price range, according to a source close to the deal.

Loans syndicate bankers in Asia are keeping busy until the end of the year with new deal launches from across the region.

The US and Hong Kong IPO markets saw a raft of companies trying to catch the last window for their listings before the year end, as the short-lived rally from the US-China trade war ceasefire did little to reassure ECM bankers and investors, writes Christie Ou.

Citi has named Jan Metzger as head of Asia Pacific banking, capital markets and advisory (BCMA), a newly created division in the region, according to an internal memo seen by GlobalCapital Asia on Thursday.

Moody’s has slapped a negative outlook on the UK’s GlaxoSmithKline, after the pharmaceuticals company said it planned a debt funded $5.1bn deal for US oncology company Tesaro.

Chinese local government financing vehicle Huzhou Communications bagged Rmb500m ($73.1m) this week in its first offshore renminbi offering.