Goldman Sachs

Goldman Sachs has given two of its long-term employees additional responsibilities within the Asia ex-Japan investment banking division.

US medical technology company Stryker had to wait longer than it planned for its debut in the European corporate bond market, but when the chance to launch the deal came on Tuesday, it achieved the hat-trick of tranches it was aiming for with an extra one added for good measure.

Four borrowers piled into the dollar bond market on Thursday, adding to one of the busiest weeks of the year despite tough market conditions. UK telecoms company BT led the charge with a $1.35bn two-part deal.

WuXi AppTec’s Hong Kong IPO is set to be yet another test case of investor appetite for biotechnology names, as the company kicked off its chunky HK$7.5bn ($958m) flotation this week. With all eyes on the offering, its performance in both primary and secondary can have ramifications for other listing hopefuls in the city, writes Christie Ou.

Baidu-backed video streaming platform iQiyi opened bookbuilding for a $500m convertible bond on Wednesday after US markets closed.

Shanghai-listed WuXi AppTec has started bookbuilding for its HK$7.5bn ($958.28m) Hong Kong IPO, which has already received good response from international long-only investors, according to a banker close to the deal.

Beijing Infrastructure Investment Co showed it is still possible for a Chinese local government financing vehicle (LGFV) to pay little new issue premium for a bond, but its move came at the expense of its order book dropping by a third.

Private equity firms Bain Capital and Cinven are financing their purchase of a further 28.3% stake in Stada Arzneimittel, the German pharmaceutical group, in the euro leveraged finance markets this week, and are having to contend with investors who are in a risk-averse mood.

US medical technology company Stryker had to wait longer than it planned for its debut in the European corporate bond market, but when the chance to launch the deal came on Tuesday, it achieved the hat-trick it was aiming for with an extra tranche added for good measure.

Mumbai-headquartered Metropolis Healthcare has been given the go ahead to list by the Securities and Exchange Board of India, paving the way for an equity sale by two shareholders.

Private school operator Cognita was the first borrower in a week to attempt an issue in the euro high yield market with a sub-benchmark size deal. It sought funding for its acquisition by Jacobs Holding, the Swiss investment and charitable firm, but pulled the bond deal after weak demand.

Bankers in the corporate bond market still have a number of deals on their pads to try to execute ahead of the end of 2018. None was successful this week, but that hasn’t dented their ambition.