BNP Paribas

Daa, the Irish airport operator, and UK residential property company Akelius snatched the chance to raise funds on the most stable day this week. But demand has been muted as jitters about lockdowns and next week’s US presidential election kept some investors on the sides.

Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.

Indian software firm Hexaware Technologies has wrapped up a $600m loan to fund its take-private by Baring Private Equity Asia.

Property company Hengli Group and real estate-focused private equity firm Gaw Capital Partners are taking advantage of a recent regulatory change in Hong Kong to increase a loan closed last year.

Galaxy Pipeline Assets Bidco, a group of international investors that provided Abu Dhabi National Oil Company (Adnoc) with $8bn in a pipeline partnership deal earlier this year, has raised a $4bn triple tranche bond to refinance half of the loan that funded the team-up. The deal is, according to banks, the largest project bond ever raised.

Airbus, the French aerospace company, has signed a €6bn sustainability-linked revolving credit facility, with the borrower doubling the size of its bank line after raising billions in emergency liquidity in the spring.

Enagás, the Spanish gas transmission and network company, came to the bond market for a rare trade on Tuesday, as European Central Bank bond buying continues to make syndicate bankers' lives difficult by taking spreads in strange directions.

Barclays was met with strong demand for its second green senior deal in the sterling market on Tuesday, allowing the bank to shave 25bp off initial guidance and price through fair value.

Chinese financial technology company Ant Group is set to raise $34.3bn from the world’s largest ever IPO, after covering the deal within minutes of launch.

Daa, the operator of two Irish airports, and Swedish telecoms company Tele2 have mandated for bonds, as the market goes into near-hibernation during corporate earnings blackouts.

Compagnie Générale des Etablissements Michelin, the French tyre company, won more than €10bn of demand for its €1.5bn bond issue on Monday. Now a growing number of corporate bankers expect to see European high grade spreads return to pre-Covid 19 levels.