Citi

The big fall in the share price of UK outsourcer Capita on Wednesday led to fears of another large corporate collapse in the sector following Carillion's demise last month. But market sources saw the rights issue and turnaround plans, which caused the dip, as a way to avoid disaster as peer Serco once did with similar tactics.

The investment grade corporate bond market has started February with intent, with Thursday registering as the second busiest day of 2018 so far.

Asia’s equity-linked market joined in the sub-one year bond party this week, as issuers and investors both found something to like in the structure. Two Chinese property developers successfully priced nearly identical 363-day deals, though they had slightly different results in the aftermarket. John Loh reports.

China Evergrande Group attempted the largest Asian convertible bond in nearly two decades this week. But after investors baulked, the company pulled off one of the starkest changes of direction to a live deal GlobalCapital Asia has ever seen, relaunching with a new structure, a smaller deal size and a bigger bookrunning group, writes Jonathan Breen.

The first of China’s much-anticipated pipeline of technology-centric IPOs this year is starting to materialise.

First Abu Dhabi Bank will follow Dubai Islamic Bank to the sukuk market as GCC banks look to tap into the enormous pool of Islamic liquidity in the region.

Capita, the UK outsourcing services firm which runs London's congestion charge system, has laid out an ambitious turnaround plan including a £700m rights issue, but the stock plummeted as its profits projections fell short of expectations.

The Republic of Poland has set final terms for its €1bn 8.5 year green bond, with books over €3.4bn at the last market update. A banker away from the deal called the final level tight.

Italian toll road operator Società Iniziative Autostradali e Servizi (SIAS) followed a four day investor roadshow with its third 10 year bond this week. A €1.9bn order book allowed the company to print its largest ever deal at a much tighter spread than its previous two offerings.

China Evergrande Group made its debut in the equity-linked market on Tuesday, raising a hefty HK$18bn ($2.3bn) from a convertible bond — but not before slicing a third off the original deal size and rejigging its structure.

While Tuesday brought a flurry of euro benchmarks, the pace of issuance will slacken on Wednesday as the market battens down for a busy week of US data announcements.

Property developer China Evergrande Group opened books for a HK$23bn ($2.9bn) perpetual convertible bond on Tuesday evening, a deal that was much sought after by banks.