Goldman Sachs

New York Stock Exchange-listed online gaming company Sea tapped equity-linked bond investors for $1bn this week, following a surge in its share price after it reported strong first quarter earnings.

Italy’s Ferrari in euros and the UK’s Southern Water Services in sterling won strong demand for new bonds on Wednesday, but the slowdown in issuance has got some syndicate officials wondering if the market is already winding down for summer.

Chinese property borrowers are back in the bond market, following the success of Zhenro Properties Groups’ $200m deal last week. But Tuesday’s issuers — Country Garden Holdings Co and Redco Properties Group — saw two different outcomes, as they grappled with an illiquid secondary market and difficult pricing levels.

ING has become the latest EU bank to sell subordinated debt during the coronavirus crisis, after capitalising on healthy levels of demand for its tier two paper on Tuesday.

Singapore-based online gaming company Sea has launched a $1bn convertible bond, following a surge in its share price after reporting strong first quarter earnings.

High grade corporates poured into the primary market on Monday, with sentiment noticeably higher as the first trial for a Covid-19 vaccine in the US and easing of lockdown restrictions in Europe cheered markets.

Kintor Pharmaceutical has notched another success for the healthcare sector, raising HK$1.86bn ($240m) from its IPO after pricing the deal at the top of the marketed range.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, and Legend Biotech Corp both set the ball rolling for Nasdaq IPOs this week.

The Republic of Finland had to share its return to dollar market on Wednesday with a trio of three year SSA deals. Demand for dollar SSA bonds has been strong this week, and with mandates out for five and seven year deals,issuers are still looking to take advantage

Hong Kong property company New World Development Co, which has taken hits to its business due to both the social unrest in the special administrative region and the Covid-19 outbreak, has raised $600m from the bond market with a 20bp new issue premium.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, has set the ball rolling for a Nasdaq IPO.

China Resources Gas Group's stock price dropped by nearly 7% on Tuesday, following an equity fundraising the day before.