Goldman Sachs

Deutsche Lufthansa, the German flag carrier, has exploited the huge rally in equity markets in recent days by issuing a €600m convertible bond, which attracted orders from over 200 investors.

Deal arrangers expect banks will take advantage of a positive tone in the euro market by bringing forward their plans for non-preferred senior issuance, following in the footsteps of CaixaBank and ING Groep on Tuesday.

Hamburg Commercial Bank will no longer proceed with its planned tier two bond, having already attempted twice this year to bring one to the market. Its focus is now turning to issuing senior non-preferred and additional tier one (AT1) paper.

Three Chinese property companies launched dollar bonds on Monday, continuing to take advantage of the post-US election momentum.

China Orient Asset Management (International) Holding got nearly $10bn of orders for its $750m dual-tranche bond on Monday as it rode on a big rally in market sentiment after the US elections and its own rarity appeal to investors.

Three property companies from Greater China hit the bond market last Friday, raising $850m between them even as the US presidential election battle raged on. With Joe Biden now announced as the president-elect, the issuance spree in Asia only picked up pace on Monday.

China Resources Mixc Lifestyle Services has begun testing investor appetite for a Hong Kong listing that could raise around $1bn, said a source close to the deal.

Antengene Corp, a clinical stage biopharmaceutical company, has set its Hong Kong listing in motion. It has opened bookbuilding for an up to HK$2.79bn ($359.4m) IPO.

Singapore-based special purpose acquisition company (Spac) Tiga Acquisition Corp has set in motion a $200m listing on the New York Stock Exchange.

India’s JB Chemicals & Pharmaceuticals has wrapped up a $206m loan to support KKR’s acquisition of a majority stake in the company.

Antengene Corp, a clinical stage biopharmaceutical company, is set to launch the roadshow for its Hong Kong IPO next week after wrapping up pre-deal investor education, according to a source close to the listing.

Ping An Insurance-backed Lufax Holdings is expected to price its American depositary shares at the top of guidance, following a large turnout from global heavyweight investors for its IPO.