Banks

HKR International, a conglomerate with operations in property development and healthcare, has turned to the loan market after five years for a HK$3.35bn ($432m) facility.

The Agence France Trésor (AFT) has suspended Morgan Stanley’s primary dealership in French government bonds, making it the first bank to suffer such a proscription.

The State of Brandenburg got over the line with a fully subscribed order book and a yield inside its curve on Tuesday, successfully avoiding the fate that its compatriot Berlin met at the tenor last week.

Alibaba Health Information Technology hit the market on Tuesday evening to raise up to HK$8.2bn ($1.06bn) in fresh equity from a follow-on, according to a term sheet seen by GlobalCapital Asia.

Delek Drilling, the Israeli energy company, launched a $2.25bn bond sale on Tuesday, in one of the few high yield emerging market bond deals seen during the coronavirus pandemic.

Credit Suisse opened books on a new additional tier one (AT1) in the dollar market on Tuesday, as bankers predicted that other European issuers could bring follow-on supply in the currency.

Hyde Housing, a UK housing association, paid zero concession on its August 2055 sterling benchmark trade, with the borrower opting to raise debt at the shorter end of the maturity range it marketed to investors on Monday.

CP Pokphand Co, the Hong Kong-listed investment arm of Thailand’s Charoen Pokphand Foods, has closed a $400m loan for refinancing with 15 lenders.

South Korean game developer Kakao Games is set to list in September for up to W384bn ($323m), reviving the deal two years after dropping its initial IPO plans.

A recent flurry of bonds from financial institutions did not dent appetite among investors for China International Capital Corp’s (CICC) $500m deal on Monday.

Powerlong Real Estate Holdings received huge support from investors for its $200m bond on Monday. The deal’s modest size and expectations of limited imminent supply from Chinese property credits helped the firm get away with a negative new issue premium of about 10bp.

Chinese property developer KWG Group Holdings returned to the bond market on Monday, taking $200m at a level that was inside of fair value estimates from analysts.