Banks

India's placements market is heating up, with new issuers set to raise fresh equity.

Deutsche promotes Elalingam to IB coverage job — JPM hires Aus head of financial sponsors

Chinese local government financing vehicle (LGFV) Shandong Guohui Investment Co used its leasing arm to return offshore for $200m on Wednesday.

Chinese real estate company Cifi Holdings (Group) Co returned to offshore renminbi bonds this week, raising Rmb1.2bn ($172.8m) from the biggest dim sum deal from a corporation in more than a year.

China Great Wall Asset Management Co reopened bond supply from the country's bad debt managers this week with a tightly priced $500m deal.

Wayfair, the US e-commerce company that sells home office furniture, has raised $1.32bn with the sale of a new convertible bond, after a surge in its stock price during the Covid-19 pandemic.

Inter-American Development Bank will come to market for a Canadian dollar sustainable development bond on Thursday. The trade will share the market with a two year from Kommuninvest.

ABN Amro plans to quit corporate banking outside Europe, except for clearing, and also exit trade and commodity finance in a shake-out of its corporate and investment banking activities.

KKR, the US private equity group, has sold a $1bn mandatory convertible bond to fund its acquisition of life insurer Global Atlantic Financial Group, which it announced last month.

Christina Too and Gordon Butterworth will join Deutsche Bank as managing directors in its healthcare investment banking coverage and advisory team for Europe, the Middle East and Africa.

Hangzhou Qiantang New Area Construction and Investment Group Co, a Chinese local government financing vehicle (LGFV), found strong support from banks for its maiden dollar bond, allowing it to tighten price guidance by 70bp during the day.

Hong Kong-based Li & Fung used a coupon step-up in case of a rating downgrade to attract investors to its $300m bond on Tuesday, as it gears up for a big hit to its business this year as a result of Covid-19.