Banks

Chinese smart electric vehicle maker Nio has launched an accelerated follow-on offering, riding on the strong support seen for the US listings of its competitors in the past month.

A $600m loan to support Baring Private Equity Asia’s take-private of Indian software firm Hexaware Technologies has been launched into general syndication, with three banks joining at the top level.

Singapore’s agribusiness company Wilmar International has raised a S$200m ($146m) bilateral loan from DBS using the country’s new interest rate benchmark.

Railing against the inflow of private capital into developing markets is idealistic at best and lethal at worst. Critics should be careful what they wish for.

Rating: Aa2/AA/AA

The dollar corporate bond market skipped the summer slowdown this year. This week Royalty Pharma issued its first bond as a public company and pushed August's total issuance above $100bn for the first time ever.

Oil and gas companies are facing the daunting prospect of the world weaning itself off fossil fuels. And this is sparking intense discussions with banks and investors, as these businesses consider how to preserve their access to capital markets.

The offices of London’s top banks are unlikely to fill up in the coming weeks, as firms are adopting a gradualistic approach to returning staff to their pre-pandemic workplaces.

SSA borrowers, and supranationals in particular, have long aspired to break into the vast pool of domestic US investors. Thanks to a long-dated floater linked to Sofr, the World Bank has found a new means of accessing these investors.

Companies piled into the bond market with hybrid capital issues this week to raise €4.95bn between them, as syndicate bankers say that they are encouraging as many borrowers as possible to consider pushing out higher risk trades before raising senior debt.

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

Crédit Agricole’s Swiss subsidiary sold its first structured covered bond in Swiss francs on Wednesday. The bond was issued under a new programme that differentiates it from covered bonds issued by its parent bank under French law in the Swiss market.