Banks

Canned fruit and vegetables producer Del Monte Philippines has put its IPO on hold due to a jump in volatility and renewed Covid-19 lockdowns in the country.

Credit Suisse has hired Brett Ryman to its investment banking and capital markets (IBCM) team in Australia, according to a memo seen by GlobalCapital Asia.

It has been an earnings season of rebounds. UBS, the first of the European investment banks to report its results for the second quarter of the year, used the word “rebound” three times in its earnings report, which it published on July 23. Since then, BNP Paribas has pointed to an “established rebound” in its results while HSBC has reported a “rebound” in profits in the US and Europe.

Pfandbriefbank Schweizerischer Hypothekarinstitute woke up the Swiss franc market on Tuesday by selling the first bond in almost a fortnight.

UBS was hot on the heels of Credit Suisse with a new issuance in the dollar market this week, as banks spy an opportunity to get funding done in early August.

Hong Kong’s Securities and Futures Commission has hit UBS and its securities unit with a combined HK$11.55m ($1.5m) in fines for regulatory breaches.

Indian agribusiness company Adani Wilmar has filed draft documents with the securities regulator for a Rp45bn ($605.6m) IPO.

An international consortium is seeking a $275m loan to support its acquisition of DuPont Clean Technologies.

Indian power finance company REC, formerly known as Rural Electrification Corp, has mandated five banks for a $600m loan.

Korea Midland Power Co steered its $300m bond through tough market conditions on Monday, having little option but to offer investors a premium to ensure decent secondary performance of its notes.

US-listed hybrid electric vehicle maker Li Auto has hit the road for its Hong Kong secondary listing. The deal could raise around HK$13.1bn ($1.68bn) based on the last close of its US stock.

Sports teams could be among the Covid-battered industries looking to tap the capital markets later this year and next, bankers believe, as Italy’s elite Juventus Football Club prepares for a €400m rights issue to repair its finances.