Banks

India’s first listing of a unicorn has started, as Zomato, a food delivery start-up, made its second day of bookbuilding on Thursday for a Rp98.9bn ($1.32bn) IPO. Droves of investors have already oversubscribed the deal, paving the way for the pipeline of technology listings to come, writes Jonathan Breen.

US investment banks enjoyed a boost in earnings from their M&A bankers in the past quarter as a flurry of deal making made up for a return to more normal levels of debt issuance and trading.

Anchor Hanover, the UK’s biggest retirement home company, hit the sterling market on Wednesday with a debut sustainable bond, as it continues to shift its capital structure towards socially responsible finance.

African Development Bank and New Development Bank will add to the week’s dollar SSA bond supply on Thursday. The lack of issuance in the currency in June is helping to boost sentiment in the market despite a rocky rates backdrop.

The Reserve Bank of New Zealand announced on Wednesday that its quantitative easing programme will come to a surprisingly sudden stop on July 23.

A handful of borrowers have found their additional tier one (AT1) paper upgraded into investment grade territory by Moody’s this week, following adjustments in how the agency treats high trigger instruments.

The IPO of Novem Group, the German car parts supplier, is set to be priced at €16.50 a share, according to sources close to the deal.

Indian food delivery app Zomato has launched its hotly-anticipated IPO of up to Rp98.9bn ($1.32bn), anchored by a strong book of global heavyweight investors.

CLP Power Hong Kong's latest $300m bond offered a rare bit of stability in a volatile market, making the well-established borrower popular with investors — but only for the right price.

Chinese state-owned enterprise Zhejiang Provincial Energy Group Co has returned to the offshore market for the first time in nearly seven years to print a $500m bond.

Three real estate developers from Greater China raised additional funding from the dollar bond market through opportunistic trades on Tuesday, taking some comfort from the Chinese central bank’s recent move to boost renminbi liquidity.

State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is in the market for a $790m loan, its largest offshore facility yet.