Banks

Harley-Davidson, the US motorbike maker, has opened books on a three year euro bond at a nosebleed-inducing wide spread. Bankers suggest the company had little choice but to accept to pay a sky high margin.

As Europe starts to emerge from its coronavirus lockdown, economic restrictions are being eased and banks are returning to funding in the public markets. But the environment is markedly different from that which went before.

Credit Suisse has become the first Swiss bank to issue a green bond in the euro market, and has also marketed a rare floating rate note. The trades were testament to improving market conditions and the ability for strong names to sell less common products.

Chinese battery maker Leoch International Technology has returned to the loan market for a $100m refinancing.

Fater Belbachir is joining Citi as head of equities, a year after taking on the same position at Barclays. The US bank is changing the leadership structure of its equities and securities services business (ESS).

Rating: Aaa/AAA

Mining company Indonesia Asahan Aluminium (Inalum) battled weakening fundamentals and financial troubles at its state-owned peers to raise $2.5bn from a triple-tranche bond on Monday.

Malaysian telecommunications company Axiata has raised $800m from an Islamic sustainability-linked loan.

Online payments platform Yeahka has begun stirring up investor interest in its Hong Kong IPO, which is set to be launched next week, according to a source close to the deal.

China Resources Gas Group's stock price dropped by nearly 7% on Tuesday, following an equity fundraising the day before.

China-based Kintor Pharmaceutical has kicked off bookbuilding for its Hong Kong listing, the latest in a stream of healthcare IPOs in the city. The issuer is targeting HK$1.86bn ($240.1m) in proceeds.

Santander has surged to the front rank of the EMEA syndicated loan market since the coronavirus crisis began — the bank made a deliberate strategic push.