JP Morgan

eHi Car Services tapped its 2024 notes for an additional $150m on Wednesday, bringing the total deal size to $450m.

Europe’s high grade bond market hosted issuers at both ends of the rating spectrum on Wednesday, with Italian transmission company Terna and Singapore’s Ascendas Reit finding ample demand for their higher rated debt.

The two riskiest issuers in Europe’s corporate bond market on Wednesday both opted for size over pushing hard on pricing. Poste Italiane with its hybrid capital issue and crossover-rated Finnish nuclear power company Teollisuuden Voima priced bigger than expected deals.

GlobalCapital reveals today the winners of its Bond Awards 2021, including celebration of the achievement of top corporate banks and issuers — and Lifetime Achievement Awards for two of Europe’s most prominent corporate funding officials.

Hipgnosis Songs Fund, the London-listed investment trust focused on music catalogues, has announced a £150m share placing to fund its backlog of asset acquisitions.

Nayuki Holdings, a Chinese teahouse chain, is set to launch its Hong Kong IPO on Friday, according to a source close to the deal.

China Aoyuan Group’s attempt to woo investors to its $200m bond with a generous yield fell flat on Tuesday. Recent concerns about the property developer’s leverage, and the subsequent fall of its dollar bonds in the aftermarket, held investors back from the new deal — and caused a further spiral in secondary. Morgan Davis reports.

Shanghai Junshi Biosciences has raised HK$2.56bn ($330.5m) in equity capital from a placement of shares that drew a solid response from investors both during wall-crossing and bookbuilding.

The Republic of Kenya will return to international bond markets this week after a two year hiatus. The mandate added to the growing pipeline of sub-Saharan African sovereign trades.

Bike 24, the German online cycling shop, has set the price range for its IPO on the Frankfurt Stock Exchange, offering a hefty discount to online fashion retailer Zalando amid intense competition for the attention of investors in a crowded market for new listings in Europe.

Stellantis, the entity formed by the merger of car makers Fiat-Chrysler Automobiles and PSA Group, printed what the lead managers reckon was the longest maturity bond in euros from the sector in its ratings bracket, though the market was divided over whether peers could print similar deals.

French insurer Macif hit all the subordinated formats available to insurance issuers on Monday, as it attracted a bumper €14bn book for a triple tranche deal to fund its acquisition of Aviva France.