Citi

Veteran Citi banker Pramit Jhaveri is retiring, bringing the curtain down on a 32-year career at the US firm.

Alibaba Group Holding pulled off the year’s largest IPO this week, raising HK$88bn ($11.2bn) from its Hong Kong secondary listing. The company has given the stock exchange a much needed boost in morale, while signalling to other foreign-listed Chinese companies that they can come home. Jonathan Breen reports.

Vicky He rejoins CS — SG adds to Greater China team — Nomura promotes Tiwaari — UBS Apac ECM vice-chairman leaves — Sternby returns to UBS

Taiwanese electronic component company Yageo Corp has received a chunky $1.1bn bridge loan to support its acquisition of Kemet Corp, a US-based company in the same industry.

Czech consumer finance company Home Credit has shelved its potential Hong Kong IPO citing poor market conditions. The deal had been slated to raise up to $1bn.

High grade companies stormed the European bond market with an array of tranches on Wednesday, and investors snapped up the trades, despite it being so late in the year.

Immobiliare Grande Distribuzione, a crossover-rated Italian property company, brought a sub-benchmark five year bond on Wednesday and shaved 25bp off the spread during execution.

The euro corporate bond new issue market was full of smaller deals on Tuesday, for Japan Tobacco, Hitachi and Naturgy, but investors were preparing for the onslaught of jumbo transactions which they knew were coming on Wednesday and Thursday.

Industrials company Mytilineos is trekking around Europe, marketing half a billion euros of senior notes. This marks the first time the Greek conglomerate tries to tempt international high yield investors, possibly signalling growing global ambitions.

Investors showed some price sensitivity when confronted with the State of North Rhine Westphalia’s (Land NRW) dual tranche sustainable offering on Wednesday. Nevertheless, compatriot issuer Rentenbank will add to euro SSA supply this week after mandating banks for a new 10 year benchmark.

Ageas is offering to purchase FRESH securities — a series of legacy capital instruments — from its investors, in a bid to improve its capital structure. The Belgian insurance company intends to replace the notes with a new restricted tier one bond in euros.

Japan Tobacco and Yorkshire Water have given mandates for new euro and sterling bonds, respectively, as S&P Global says the amount of European corporate debt it rates has grown to €6.44tr.