Banks

Mercedes-Benz Leasing Co sold its first auto lease asset-backed note in China’s interbank market this week, navigating a number of hurdles to launch the Rmb4bn ($600m) deal.

A pipeline of deals is building in the Swiss franc bond market for when the US election is concluded. Among those circling the market is Caisse des Dépôts et Consignations, which could finish its 2020 funding with a public benchmark.

Chinese property manager Jinke Smart Services Group has launched its IPO. It is aiming to pocket up to HK$6.3bn ($815.9m) from the deal.

Credit Suisse has created a new post of head of investment grade capital markets, EU.

Cellularline, the Italian smartphone accessories company, has signed a €70m loan facility, with a chunk of the funding destined for M&A activity.

JP Morgan has made Stefan Povaly, co-head of EMEA leveraged finance origination, country head for Germany, part of a raft of senior changes in the country following the promotion of Dorothee Blessing to co-head of EMEA investment banking earlier this year.

Moody’s gave Deutsche Bank a ‘stable’ outlook for its ratings this week, helping the issuer feel more positive about its funding costs.

While election results rolled in across the US on Wednesday, Westpac decided in Australia that it would launch a new additional tier one (AT1) deal, targeting retail and institutional investors.

Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has set the final terms for its Rp64.8bn ($866.5m) IPO in India.

Zhaoheng Hydropower (Hong Kong) has missed a payment on a 2017 dollar loan. It had extended the maturity on that deal earlier this year.

Chinese biopharmaceutical firm RemeGen has raised HK$3.99bn ($514.7m) after pricing its IPO at the top of the marketed range, according to a source familiar with the matter.

The Shanghai bourse stunned the market on Tuesday after halting Ant Group’s $34bn IPO, a deal which was set to be the largest listing in history. The extraordinary move, likely spurred by comments from Ant’s co-founder Jack Ma that criticised authorities for stifling innovation in China, is expected to delay the listing by at least six months. It will also force investors to revalue the company.