Banks

Chinese internet and data centre services provider 21Vianet Group has raised $352.8m from a primary issue of its Nasdaq-listed stock.

Shandong Commercial Group Co followed its Chinese state-owned peers into the dollar market on Tuesday, but found limited support from investors for its $180m unrated bond.

Genting Hong Kong, a cruise ship operator under financial pressure due to the pandemic, held a meeting on Monday with its bank creditors to discuss a debt restructuring plan.

Compart Systems, a high precision metal components maker, has returned to the loan market to refinance an old borrowing from 2016, which was used to support its buyout by Platinum Private Equity.

Ant Group has taken a step closer to pulling off what is expected to be the world’s largest ever share offering, submitting IPO applications in Hong Kong and Shanghai on Tuesday.

Daniel Hunziker has been appointed head of institutional clients at Credit Suisse (Schweiz) AG, replacing Michael Sager.

Investors piled into European corporate hybrids again on Tuesday, with Belgian chemical firm Solvay and Austrian oil company OMV out with well received trades.

The State of North Rhine-Westphalia and Nederlandse Waterschapsbank will be the first two public sector borrowers to test investors’ appetite for euro deals in the long end of the curve following the summer break.

The State of Baden-Wuerttemberg only managed to sell around half of its €1bn 10 year bond to investors on Tuesday as it came flat or slightly through its curve alongside competing supply in the tenor.

Intesa Sanpaolo racked up plenty of orders behind an additional tier one (AT1) on Tuesday, showing that investors are hungry for new sources of yield. The deal ended a long pause for sales of subordinated debt in the euro market.

Bank credit investors are showing they won’t be forced into buying every new euro deal after the summer break, as they appear content to wait for further supply.

Freudenberg, the German industrial conglomerate, has signed a €500m revolving credit facility, as European lenders say that refinancing facilities are expected to take up a large portion of their time for the rest of the year.