Citi

European issuers are set to return to the subordinated debt market this week, following the confirmation of Joe Biden’s victory in the US election on Saturday. First off is NatWest Group, which reopened the additional tier one (AT1) market on Monday with its first venture into sterling.

Chinese property manager Sunac Services Holdings has hit the road for its Hong Kong listing, eyeing HK$8.7bn ($1.1bn) in fresh equity.

China Resources Mixc Lifestyle Services has begun testing investor appetite for a Hong Kong listing that could raise around $1bn, said a source close to the deal.

Antengene Corp, a clinical stage biopharmaceutical company, has set its Hong Kong listing in motion. It has opened bookbuilding for an up to HK$2.79bn ($359.4m) IPO.

Vattenfall, the Swedish energy company, has swapped its €2bn bank line with a sustainability-linked facility, with the deal defining the borrower’s core banking group.

Chinese property manager Jinke Smart Services Group has launched its IPO. It is aiming to pocket up to HK$6.3bn ($815.9m) from the deal.

While election results rolled in across the US on Wednesday, Westpac decided in Australia that it would launch a new additional tier one (AT1) deal, targeting retail and institutional investors.

Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has set the final terms for its Rp64.8bn ($866.5m) IPO in India.

The Shanghai bourse stunned the market on Tuesday after halting Ant Group’s $34bn IPO, a deal which was set to be the largest listing in history. The extraordinary move, likely spurred by comments from Ant’s co-founder Jack Ma that criticised authorities for stifling innovation in China, is expected to delay the listing by at least six months. It will also force investors to revalue the company.

It’s a pity the irreversible damage to our world’s lungs through the wanton destruction of its rainforests does not come with the same stark health warning found on a packet of cigarettes. If it did, the world’s largest banks and asset managers might be shamed into giving up their dirty habit.

New Oriental Education & Technology Group is set to raise HK$10.1bn ($1.3bn) as it guides investors toward final pricing for its secondary offering in Hong Kong.

Naveed Sultan will develop and lead a new digital policy, strategy and advisory practice for governments, corporates and financial institutions at Citi, and has been appointed chairman in the bank's institutional clients group (ICG).