Banks

Four Chinese local government financing vehicles courted dollar investors on Tuesday, raising $870m between them.

South Korean pharmaceutical company HK Inno.N Corp has kicked off pre-deal investor education for its IPO, according to a source familiar with the matter.

Chinese ride-hailing giant Didi has raised $4.4bn from its New York Stock Exchange IPO, increasing the size of the float after investors pumped more than $40bn of orders into the book.

SAIC-GMAC Automotive Finance Co is continuing its run of deals in China’s auto loan ABS market. It is now on its fourth outing of the year, with plans to price the Rmb10bn ($1.55bn) transaction on Thursday.

Rajeev Sahney, head of global banking Southeast Asia at HSBC, is retiring, according to an internal memo seen by GlobalCapital Asia.

Hong Kong jewellery company Chow Tai Fook has received strong support for its latest loan, allowing it to almost double the deal size.

Repsol, the Spanish petrochemicals company, made its first foray into sustainability-linked bonds on Tuesday, though some of the power was taken out of the deal by investors judging the level too tight for a triple-B rated issuer.

The European Union kept the strong momentum going for its second Next Generation EU (NGEU) transaction on Tuesday, although it did surprise some market participants by limiting the size of the dual tranche sale from the outset.

Acciona Energia, the Spanish renewable energy company, is due to price its IPO at €26.73 a share, the bottom of the initial range, having closed order books on Tuesday afternoon, according to sources close to the transaction.

Erste Bank’s Croatian subsidiary was the sole bank to being new issue outside the covered bond on Tuesday, with bankers surprised at just how quiet the market is despite the attractive backdrop.

Crédit Agricole announced plans on Tuesday to market its first covered bond from its social framework in what will be a rare maturity. At the same time leads on Credito Emiliano's proposed covered bond opted to wait until the European Union prices its deal is priced before launching.

Deutsche Bank has hired Esra Turk as its new head of CEEMEA institutional client group and chairman of Middle East and Africa.