Banks

Wells Fargo has informed staff in the US that it is delaying the reopening of its offices in the country as a result of rising Covid-19 cases.

Becton, Dickinson and Co, the US medical technology company, has launched a tender offer on three dollar bonds, after announcing a multi-tranche outing in the euro market.

Crédit Agricole has hired a senior China economist from Bank of America to head up its research team for Asia ex-Japan.

Cement producer Nuvoco Vistas Corp is aiming to raise Rp50.9bn ($686.2m) from its listing of primary and secondary shares in India.

China Telecom Corp has priced its Rmb47.11bn ($7.3bn) A-share listing, a deal that is smaller than expected but will still set a global record for 2021.

China’s securitization market was bustling with deals this week. Toyota Motor Finance (China) Co followed Beijing Hyundai Auto Finance Co to launch a Rmb5bn ($774m) auto loan ABS deal, with two more transactions also in the works.

Gemdale Corp reopened the bond market for high yield Chinese property companies on Thursday with a $480m green deal that landed at fairly 'aggressive' levels.

Philippine property developers Megaworld Corp and Robinsons Land Corp have got approvals from the country’s regulator to float real estate investment trusts (Reits).

South Korea’s stock exchange has approved Hyundai Heavy Industries Co's IPO of around W1tr ($875.4m).

Joey Mak, a former loans banker at Mizuho, has joined Bank of Communications as section head of the structured finance department.

Chinese local government financing vehicle Hangzhou Shangcheng District Urban Construction & Comprehensive Development Co raised $200m from a three year bond on Thursday.

After the damning report into the Archegos Capital Management affair, Credit Suisse’s top management is likely to spend the rest of 2021 in a strategic huddle. Further upheaval at the investment bank is inevitable, but the business remains an essential part of the group’s future, writes David Rothnie.