JP Morgan

Chinese housing-related platform operator Ke Holdings, which listed in August in New York, is back again to the equity market. It is looking to raise around $2.6bn from a follow-on offering.

The People’s Republic of China is planning a comeback to the euro bond market this week, one month after selling its first dollar trade in the US.

The high grade corporate bond market burst into life on Monday, with mandates for a diverse range of trades from hybrids to sustainability-linked bonds hitting screens to take advantage of the unexpectedly positive November issuance window.

Erste Group Bank launched its second additional tier one (AT1) of the year on Monday, taking advantage of a surge in risk appetite in the run up to the Christmas break.

BBVA said on Monday that it had reached an agreement to sell its US subsidiary to PNC Financial Services. The Spanish bank’s bonds rallied sharply on the news of the deal, which will increase its main capital ratios by as much as 300bp.

Swedish digital bank Nordnet has set a price range for its IPO on Nasdaq Stockholm, following a constructive investor education process.

Inmobiliaria Colonial, the Spanish office real estate company, has signed a €1bn sustainability-linked loan, wrapping up a €2bn fundraising spree from the group.

Financial institutions jumped into action this week, as positive news on the development of a Covid-19 vaccine led to superlative funding conditions in the euro market.

NatWest Group and Société Générale reopened the additional tier one (AT1) market to some fanfare this week, as investors showed they were hungry for yield by snapping up the deals.

Adidas, the German sportswear company, has signed a €1.5bn loan to replace an emergency facility from KfW signed during the worst of the coronavirus pandemic. It has raised €3bn of debt since taking the crisis loan.

The clamour for green bonds was on display in the corporate market on Thursday when UPM-Kymmene, the Finnish pulp and paper company, had its debut green issue more than six times oversubscribed, while a conventional bond for Swedish truck maker Scania found more modest demand.

Bank of Communications Co raised $2.8bn from a Basel III-compliant additional tier one (AT1) capital bond on Wednesday, introducing a new perpetual bond format for Chinese banks.