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  • Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds almost $400bn of assets under management, has played a critical role in maintaining financial stability during the coronavirus pandemic. Alireza Zaimi, head of corporate finance at the PIF, tells GlobalCapital how the fund weathered a commodity shock of unprecedented proportions, how the crisis has shaped its investment choices, and how its funding strategy has held up.
  • CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.
  • Happiest Minds Technologies kicked off a three-day bookbuilding for its Indian IPO on Monday.
  • Indian mobile network provider Vodafone Idea is planning to raise as much as Rp150bn ($2.05bn) from an equity placement that is part of a multi-billion-dollar fundraising.
  • Chinese government-related entities (GREs) and local government finance vehicles (LGFVs) received more rating upgrades than downgrades from Fitch Ratings in the first half of 2020, but the pricing differences between bonds from quality names and weaker credits remain stark, said DCM bankers.
  • China’s Fulu Holdings hit the market on Monday, opening books for an IPO that could raise up to HK$890m ($114.8m).