Credit Suisse

UK airline EasyJet has raised £418m of fresh capital to bolster its balance sheet after reporting a significant half year loss because of the impact of the Covid-19 global pandemic on its business.

Coöperatieve Rabobank launched a 10 year covered bond at a spread of 7bp over mid-swaps this week, leaving a small new issue concession for investors. The deal also underlined the recent recovery of credit spreads amid the coronavirus pandemic.

The second slice of the ThyssenKrupp Elevator financing hit the market on Wednesday, with €4bn of bonds announced across secured and unsecured tranches in dollars and euros, joining the €3bn of loans earlier this week as part of the package to fund Europe’s largest LBO in a decade.

Chinese property company Agile Group Holdings’ new $500m bond tumbled in the secondary market on Wednesday after the firm took an aggressive approach to pricing.

Chinese property developers Ronshine China Holdings and Sichuan Languang Development Co returned to the market on Tuesday to reopen their dollar bonds. Both the borrowers priced their taps tightly, but saw their notes widen in the secondary market.

Cavotec, the Swiss maritime engineering group, has refinanced its €95m revolving credit facility with a new bank line, a month after reporting a more than 20% hit to its revenues from the coronavirus pandemic.

CNP Assurances and Helvetia Europe have added to issuance momentum in the insurance sector, giving investors the chance to put money into subordinated capital. The tier two bonds showed that ‘the market is back in shape’, said one deal arranger.

Zhen Ding Technology Holding tapped the equity-linked market on Monday with a zero coupon convertible bond.

Fosun International pushed pricing aggressively for a new deal on Monday, but the $600m bond still surpassed its size expectations.

Trinidad and Tobago tapped bond markets for the first time for four years on Monday with a deal that its finance minister claimed “achieved what our detractors said was impossible”.

Pharmaceutical company Ferring is preparing to launch its first public bond, having mandated banks on Monday to lead investor calls ahead of a potential Swiss franc trade.

Shares in Meyer Burger Technology, the Swiss developer of solar panel technology, surged by more than 26% on Monday morning after the company unveiled plans for a Sfr165m capital increase to accelerate its plans for an expansion its own cell and module production capacity.