Citi

New Oriental Education & Technology Group, one of China’s largest private education companies, has kicked off bookbuilding for a Hong Kong secondary listing worth around $1.4bn.

The announcement this week of two acquisitions involving European and emerging market companies has cheered loans bankers who have been missing big M&A tickets because of the Covid-19 pandemic.

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.

Korea Land & Housing Corp has broken a six-year absence from the dollar debt market to raise $300m from a social bond.

Krafton, a popular South Korean video game developer, has mandated banks for its 2021 IPO.

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.

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.

Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has won approval for its IPO from India’s securities regulator, according to a source close to the deal.

T-Mobile brought its bond issuance this year above $30bn this week, when it printed its second jumbo deal in a month.

Three banks rode out a volatile bond market this week, printing senior deals amid positive sentiment caused by talks making it seem an agreement about a new US Covid-19 stimulus package was closer on Tuesday.

China’s Ant Group kicked off marketing for its Hong Kong and Shanghai dual listing on Thursday, the last stage before launching a possible $35bn IPO, set to be the world’s largest to date. The combined offering is already more than a third covered by onshore investors, with global buyers lining up for the rest. Addison Gong and Jonathan Breen report.

Taiwanese electronics giant Hon Hai Precision Industry Co shook off trade war concerns to raise $1.4bn from the bond market on Tuesday.