Banks

European Banks are seeing a rebound in their common equity tier one capital ratios in the second quarter, as they draw on new measures of regulatory relief to guard themselves against a tougher operating environment.

BE Semiconductor, the Dutch semiconductor maker, has followed its peer STM Microtronics into the equity-linked market this week by selling a €150m seven year convertible bond.

Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.

China Construction Bank Co sold a $1.2bn dual-tranche green deal on Tuesday, becoming the first Chinese financial institution to sell a green dollar bond this year.

CSC Financial Co, better known as China Securities, raised $500m from the international bond market this week ─ generating an order book more than 12 times the size of the deal at its peak.

India’s Adani Ports and Special Economic Zone proved its willingness to be flexible this week, changing its planned tenor and offering a decent concession to secure demand for a $750m bond.

Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.

Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday

Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.

Chinese pharmaceutical company WuXi AppTec has raised HK$7.37bn ($950.4m) of fresh equity, in a hotly-anticipated tap of a new mandate to issue A-shares and H-shares.

The UK government looks ever more likely to create a new public sector bank focused on green infrastructure. Policy experts welcome the prospect, but there would be many choices to make over the structure and financing of the organisation.

KfW tapped an October 2034 line on Tuesday, enjoying impressive demand for the €1bn trade thanks, in part, to the strong performance of the Bund curve sending investors hunting for yield.