Banks

Babytree Group and Tongcheng-Elong Holdings both got their Hong Kong IPOs past the finish line this week, as equity markets globally continue to get battered by volatility.

Chinese online educator Koolearn Technology Holding has launched pre-marketing for its Hong Kong IPO at a time when the mainland government is stepping up regulation of the private education sector.

Chinese property developer Country Garden Holdings has pocketed HK$7.83bn ($1bn) after using a call spread for a concurrent new issue and buy-back of existing convertible bonds — a popular structure in the US but groundbreaking for Hong Kong. Jonathan Breen reports.

BNP Paribas has hired a senior German coverage banker from Commerzbank.

Government-backed energy firm Beijing Enterprises Clean Energy (BECE) is marketing its first Panda, a Rmb1.2bn ($173m) renewable corporate bond, as a green bond.

Yunnan Provincial Energy Investment Group Co raised $200m from a bond on Wednesday, using up part of its regulatory quota before the end of the year.

Barclays has hired two interest rates options traders in London, as it seeks to grow the business and expand its product offering.

Solarpack Corp Tecnologica, the Spanish solar power generation company, has begun bookbuilding for its €101m IPO on the Spanish Stock Exchanges after the deal prospectus was approved by market regulator CNMV on Tuesday.

Equita, an Italian independent investment bank, has made two hires as it seeks to beef up its fixed income offering.

As the year draws to a close, Deutsche Bank’s corporate finance division has completed its layoffs, and its new management team is looking to grow revenues, but the business remains a work in progress, writes David Rothnie.

Kommuninvest took advantage of the lack of competing SSA supply on Wednesday to price a long three year dollar trade ahead of the US holidays. Meanwhile, Nederlandse Waterschapsbank has appointed banks to arrange investor calls for its annual water bond.

US medical technology company Stryker is still looking to bring its debut euro transaction following its recent roadshow, but is waiting for market conditions to improve before pushing its triple-tranche offering into the market.