HSBC

US and European financing markets are wide open for business despite the shock US election result, and banks are pressing on with M&A mandates with seemingly renewed vigour. Elly Whittaker reports.

The European high yield market this week proved that it has learned at least one lesson from its Brexit experience: the unexpected does not mean market shutdown.

Deutsche Bank and HSBC are co-ordinating the loans for British American Tobacco’s acquisition of a 57.8% stake in Reynolds American.

Asia’s equity capital markets recovered quickly in the wake of Donald Trump winning the White House, with most of the indices regaining their losses in Thursday’s trading. Primary issuance also took off, with some keen issuers pulling the trigger on their IPOs. Jonathan Breen reports.

Doosan Bobcat got its listing across the line at the second attempt, as cheaper valuations and a willingness to accede to investors helped raise W900bn ($788.0m).

Bank of China has racked up another first with the inaugural green covered bond from the mainland. The deal’s unique structure garnered international attention, supporting the country's pursuit of leadership in green bonds.

Datang Environment Industry Group Co has bagged HK$2.0bn ($257.9m) after sealing its second attempt at an IPO.

Investors had the opportunity to buy an additional tier one offering from a Chinese city commercial bank for the first time last week, with Huishang Bank Corp selling its debut dollar-denominated bond.

A HK$2.8bn ($361m) loan to back private equity firm Permira's leveraged buyout of Hong Kong-based Tricor Holdings has been launched into general syndication.

Shares in Phoenix Group Holdings, the UK buyer of closed life insurance books, have gained 1.9% since the company announced on Wednesday the successful completion of its £735m rights offer to finance its takeover of Abbey Life.

The euro corporate bond market sold off on Wednesday morning in reaction to Donald Trump’s victory in the US presidential election, but spread widening was limited, and bankers are already preparing new issues for Thursday.

CMB Financial Leasing Co has picked banks and is starting a roadshow this week for its debut international bond, in a sign that it's business as usual in Asia.