Goldman Sachs

Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.

China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.

Volkswagen printed the biggest trade in its history as high-grade corporate borrowers blitzed the dollar market in response to the results of the US mid-term elections.

American pharmaceutical company Allergan, best known for its cosmetic drug Botox, returned to Europe on Thursday for a new three tranche corporate bond deal. The €1.7bn transaction fell short of the company’s debut €2.7bn deal, but was a filip for a market that had been silent the previous day due to the US mid-term elections.

Goldman Sachs has restructured its capital markets teams in Asia, naming new co-heads for the equity and credit units.

On Tuesday, Logicor, the largest provider of logistics property in Europe, made its debut in the euro corporate bond market. The €1.8bn three tranche deal is believed to be the largest debut trade by a real estate company in euros.

Goldman Sachs has restructured its capital markets teams in Asia, naming new co-heads for the equity and credit businesses.

Qiagen, the Dutch biotechnology company, has returned to the equity-linked market to sell a six year senior unsecured convertible bond with a similar call spread structure to one it sold in September 2017.

The euro high yield market was giving signs that investor discrimination is back this week, as borrowers IDG and Victoria respectively marketed and postponed new issue bond deals.

After a week without any high yield issuance, Verisure launched €1.1bn of dividend recapitalisation and refinancing bond deals this week. The market was already growing busier under tighter secondary spreads and a new refinancing deal from Intertrust.

Two former Goldman Sachs bankers have been charged by the US Department of Justice in the first criminal probe against individuals in its investigation of disgraced sovereign wealth fund 1Malaysia Development Berhad (1MDB).