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  • Hong Kong’s New World Development (NWD) sold an additional $400m of 6.25% senior fixed-for-life perpetual bonds on Wednesday, taking advantage of a “constructive” market for such structures.
  • China’s DouYu International Holdings ended a three month journey to a Nasdaq listing this week, closing the biggest Chinese deal on the exchange this year. The company was forced to price the shares at the bottom of guidance, but returned with a much bigger size than originally planned. Gina Lee and Jonathan Breen report.
  • Harmony Gold, a South African gold mining company, is in the market to raise $400m to refinance existing debt. The deal is being led by domestic lenders Absa Bank and Nedbank, according to bankers.
  • Ilfryn Carstairs, global chief investment officer at alternative investor Värde Partners, will become co-CEO from next year, while keeping his co-CIO title.
  • China’s National Development and Reform Commission (NDRC) has tightened regulations on property companies selling bonds in the overseas market. Those with free market instincts ─ including this paper ─ would typically balk at such heavy-handedness. But a tough stance is exactly what the market needs to become sustainable in the long-run.
  • Just 16 days after Laurentino Cortizo took office as president, Panama tapped the bond market for its largest ever deal. The government said it needed to raise funds to make overdue payments.