Banks

While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.

The University of Leeds tapped its debut bond for another £50m on Tuesday, becoming the first UK university to come to the capital markets since the Institute for Fiscal Studies (IFS) warned of mass bankruptcies across the sector in a damning report earlier this month.

Russian steel producer Novolipetsk Steel (NLMK) has raised a €600m syndicated loan, as experts say that the continued presence of Russians in the market during the crisis is down to the resilience they were forced to acquire after years of sanctions.

KKR bidco Planets UK has signed a £2.5bn syndicated loan to support a £4.2bn all-cash acquisition of UK waste management firm Viridor, according to sources familiar with the situation. Merger and acquisition activity is set for a revival in the second half of the year, as previously deferred deals are brought back to the fore and at-risk companies are forced to rethink strategy, bankers say.

Raiffeisen Bank International is getting ready to sell its third additional tier one (AT1) instrument, as it looks to make full use of its regulatory allowance for subordinated debt capital.

Booming markets revenues in the second quarter helped UBS post another strong set of results at its investment bank. But higher loan loss charges ate into group-level profits as the coronavirus crisis led to deterioration in the global economic outlook.

The Republic of Lithuania returned to bond markets for its second trade in less than three months on Tuesday, tapping euro investors for a 30 year trade.

ADO Properties, the German real estate developer, concluded its €450m rights issue on Monday, with a high take-up from its shareholders.

China ZhengTong Auto Services Holdings, a luxury auto dealership, surprised bankers this week after missing a principal payment on a dollar loan. Pan Yue reports.

China Huarong Financial Leasing Co opted for a short tenor deal for its latest $300m bond outing in a bid to save on funding costs.

Ant Group, the Chinese financial technology giant behind popular mobile payments app Alipay, has set in motion plans to go public through IPOs in Hong Kong and Shanghai, in what are set to be landmark deals for Asia's equity markets.

Shanghai Pudong Development Bank Co has added to the growing presence of Chinese financial credits in the international debt market with a $500m deal.