Banks

Kuaishou Technology, a video-sharing and social media platform, has begun drumming up interest among investors for a multi-billion-dollar Hong Kong IPO.

Chinese companies were undeterred from selling bonds last Friday, usually a quiet day of the week for deal flow, with four borrowers raising funds.

Chinese e-cigarette manufacturer RLX Technology has drawn enough early demand to well oversubscribe its US IPO worth up to $1.16bn, according to a source familiar with the matter.

The senior syndication stage for a $140m-equivalent loan to support TPG and Northstar Group’s acquisition of a majority stake in Japfa’s southeast Asian dairy business is set to close by the end of this week.

Credit Suisse has promoted Ted Michaels, its head of North America renewables in New York, to a new global position overseeing investment banking in renewables and sustainable energy technology.

Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors.

Saudi Arabia has secured an export financing agreement with Korea’s export credit agency and trade insurance corporation. The deal, which will bolster trade between the two, is the kingdom’s second ECA-backed deal.

Two more trades on Thursday night crowned off a busy week for block trading in London, fuelled by a rally of UK equities since the start of the year after the country secured a trade deal with the European Union at the end of 2020.

Muenchener Hypothekenbank (MuHyp) sold the longest covered bond of the year so far this week, and bankers expect more long end deals to follow.

Société Générale dropped into the Swiss market for the first time since last February to print a new bail-inable note on Friday.

Royal Bank of Canada priced its first bond issue of the year as Yankee borrowers made the most of good funding conditions in the run-up to US bank earnings season.

Alchip Technologies, a Taiwanese semiconductor manufacturer, has raised $195.5m after increasing a placement of global depository shares (GDS).