Banks

China Merchants Bank raised $700m from a dual-tranche transaction on Tuesday, marketed by two different overseas branches with two different structures. But the issuer ran into negative market sentiment that dented appetite for the deal.

China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.

Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

JHBP (CY) Holdings, a holding company for China’s Genor Biopharma, hit the road for its Hong Kong IPO on Wednesday. It is aiming to raise up to HK$2.9bn ($371.2m).

Power Construction Corporation of China (PowerChina) was back in the dollar market with a perpetual bond on Tuesday, nearly a year after its last deal.

India’s Power Finance Corp has mandated two banks for a $200m loan, and bankers expect the firm's government ownership will draw a strong response in syndication.

Goldman Sachs has given new titles to leaders in its credit finance, investment grade capital markets and equity capital markets businesses.

The Asian Infrastructure Investment Bank and the New Development Bank made a big splash in the dollar market on Tuesday, despite facing worse volatility than expected as fears over the coronavirus pandemic grew.

Chanel, the French luxury brand, is meeting investors over the next two days to market a sustainability-linked bond, the first from its sector and from an unrated company. The deal comes as the European Central Bank has changed a policy that had slowed the market's development.

The UK rode out renewed fears of the resurgent coronavirus pandemic on Tuesday, printing its second syndicated deal of the month with an order book over seven times covered.

The Australian Office of Financial Management (AOFM) has launched its fourth syndication of its 2020/21 year.

Financial institutions are waiting to see whether investors will step back into the credit market before attempting to bring new deals forward this week.