Credit Suisse

Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.

Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.

China Literature, the e-book subsidiary of Chinese tech firm Tencent, is on track for a red-hot IPO after shadow orders immediately flooded in during pre-marketing. Some smaller companies have already delayed their IPOs to avoid being eclipsed by a deal that looks sure to dominate discussion in the coming weeks. Jonathan Breen reports.

Deutsche Bahn returned to the market after a two year absence with the longest dated Swiss franc bond from a German corporate. Swap costs have made it tricky for Deutsche Bahn to borrow in the Swiss currency. But the lead managers found a window at 13 years for the issuer to exploit.

Italian telecoms firm Wind called on the high yield market on Wednesday, as it planned to refinance most of its debt with a dual currency five tranche offering, deploying 20 bookrunners in the process.

Lebanon energy trading company BB Energy signed a $225m revolving credit facility (RCF) on Wednesday to refinance a $200m facility from last year.

Chinese micro-lender Qudian has bagged $900m from its US listing, after robust demand allowed it to price the stock above the initial range, according to a banker close to the deal.

Internet gaming company Razer has kicked off investor education for its $500m Hong Kong IPO, which is expected to hit screens at the end of the month.

Tencent Holdings-backed China Literature’s $600m-$800m Hong Kong IPO is off to a red-hot start as pre-deal investor education begins, with shadow indications of interest already strong after the first day.

Baidu-backed iQiyi, a video streaming platform in China, has selected three banks to prepare an IPO in the US, which is expected to raise $1bn-$2bn, according to a banker close to the deal.

Shares in Malaysia’s CIMB Group Holdings have been sold down for the third time this year through an overnight block trade, though at a lower price than the previous two deals.

UK grocer Tesco and US telecoms company Verizon both announced tender offers for some of their outstanding bonds in euros and sterling. Tesco is offering to buy up to £700m equivalent, while Verizon will confirm the size of its repurchase once it has sold new euro and sterling bonds.