Banks

Viva China Holdings raised HK$3.8bn ($491.4m) by offloading a block of shares in Chinese sportswear manufacturer Li Ning Co this week, while Swiss Re exited New China Life Insurance.

Finland’s Aktia Bank sold its inaugural additional tier one (AT1) note this week, raising a small sized deal with a sub 4% coupon.

French hotel landlord Convivio Hotels has launched a €250m rights issue ahead of the reopening of EU countries to foreign tourists this summer.

JD Logistics wrapped up its jumbo Hong Kong IPO on Thursday after a strong turnout from institutional investors, attracted to the company’s fair valuation and its parent’s credentials. The multi-billion-dollar listing is set to be the city’s largest float since the beginning of the year, writes Jonathan Breen.

Singapore Airlines is planning to raise S$6.2bn ($4.6bn) from a rights offering of mandatory convertible bonds.

Freeport Indonesia is inviting banks to join the senior syndication stage of its $750m borrowing.

Peruvian mining company Minsur, which will shortly begin operations at a copper project that almost triples its previous size, has signed a loan with two international banks to finance a buy-back of old bonds. The liability management exercise comes as the leading candidate in Peru’s presidential elections said he wanted to raise taxes and royalties on the mining sector, and nationalise the country’s wealth.

Europe’s corporate bond buyers shied away from riskier deals on Wednesday as equity markets plunged, leaving a junk rated hybrid from SES to limp over the line while other credits fared better.

World Bank received lukewarm demand as it sold a five year dollar benchmark on Tuesday, with the leads attributing the lack of appetite to the tight level of the deal versus mid-swaps.

Shares in Coinbase plunged more than 10% at the open on Wednesday after the US cryptocurrency exchange operator sold $1.25bn of convertible bonds and suffered a serious outage of its platform that stopped many users from trading.

National Bank Trust, the bad bank set up by the Russian government after the financial crisis, has raised Rb50.2bn ($681m) by selling shares in VTB Bank, one of Russia’s largest banking groups.

The FIG market paused on Wednesday to take stock of inflation fears and weaker market sentiment, but a pipeline of issuance is building, including Spain's Banco de Crédito Social Cooperativo (BCC), which has put out a market update after it received disparate indications of interest ahead of its return to the tier two format.