Banks

Hamburg Commercial Bank is getting ready to issue a new tier two capital bond with an unusual five year tenor, as part of its efforts to reconnect with investors following its privatisation in 2018.

Big Hit Entertainment, the label behind hugely popular K-pop boy band BTS, this week launched bookbuilding for an IPO that will be worth as much as W962.6bn ($818.4m). The company is the latest to ride a wave of demand sweeping the country’s stock market, causing an over-heating that is pushing prices dangerously high, said bankers. Jonathan Breen reports.

Industrial and Commercial Bank of China raised a smaller than planned $2.9bn from its additional tier one outing, buffeted by a surge in supply this week and a softer market backdrop. Alice Huang reports.

Haitong hires IB vice-chairman – Bank of America recruits from HSBC

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Hong Kong Broadband Network is enticing banks to a HK$5bn ($645m) loan by offering them a juicier margin than previously.

Data centre operator Aligned has closed a $1bn sustainability-linked debt financing, marking the arrival in this industry of a green finance tool that is growing in popularity.

The Republic of Bulgaria issued a €2.5bn dual-tranche bond on Tuesday to support its expanding state budget, following a raft of its regional peers which are responding to the Covid-19 crisis with substantial deals.

Falck Renewables, the Italian renewable energy company, has issued a €200m green convertible bond, joining the swathe of companies that have moved into the asset class recently.

Commerzbank and Unipol Group ‘ticked all the boxes’ with their new green senior transactions on Wednesday, amassing large orders from investors.

Geox, the Italian shoe company, has signed a €90m export credit agency backed loan, days after the company announced a business restructuring of its North American operations.