Banks
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The combination of Deutsche Hypo into NordLB has failed to cause much of a stir in the covered bond market as, even though the merged cover pools will be very different, spreads between their Pfandbrief curves have little room for manoeuvre. -
Hong Kong-based property developer New World Development Co (NWD) opened a new area of issuance for Asian borrowers on Thursday when it sold the region's first dollar sustainability-linked bond.
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Bank of China sold its debut transition bond on Thursday, giving the still nascent market a big boost by opting for a dual currency dollar and renminbi deal.
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Chinese originator Home Credit Consumer Finance Co sold a Rmb1bn ($155m) consumer loan ABS this week, opting for a different type of underlying assets compared to its past deals.
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Gracell Biotechnologies has raised $209m from its Nasdaq IPO after increasing the size of the float and pricing the deal above the initial marketed range.
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Hong Kong-listed Hansoh Pharmaceutical Group and China Hongqiao Group have added to the burst of convertible bond activity in the first week of 2021, raising a combined $900m from the equity-linked market on Thursday.
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SAIC-GMAC Automotive Finance Co has sold the first auto loan ABS transaction of the year in China, printing a Rmb10bn ($1.55bn) deal this week.
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Monita Chang, a senior director in Mizuho’s debt structuring and syndication team in Hong Kong, is leaving the bank, according to a source close to the situation.
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The dollar bond market made a fast start to the year this week, as investors showered Broadcom, the semiconductor maker, with $28bn of orders, enabling it to raise $10bn.
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Europe’s small and medium sized enterprises fear dark days ahead, as treasurers complain of banks withdrawing support and express concerns that central bank bond buying programmes favour the biggest and best capitalised companies. Mike Turner reports.
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