Morgan Stanley
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Chinese software company Kingsoft Corp bagged HK$3.1bn ($399.9m) on Thursday from a five year convertible bond. It was the first equity-linked trade in Hong Kong since the coronavirus outbreak in January. -
April is set to be the second busiest month ever in the US corporate bond market (after March), as companies pile up funding to build up their financial resilience to Covid-19, despite continuing volatility and waves of bad news.
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Netflix was set to price a five year euro tranche in a $1bn-equivalent high yield bond at 3% on Thursday evening, proving there is ready market access available for companies that can demonstrate they’re coping with coronavirus. The streaming company saw record subscriber growth and broke into free cash flow territory for the first time, partly thanks its smash hit documentary Tiger King, watched by 64 million households.
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Hansoh Pharmaceutical Group, a China-based drug maker, pocketed HK$3.49bn ($450m) from a larger-than-planned issue of primary shares this week.
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Europe's equity capital market bankers are expecting a resurgence of secondary share sales by investors over the coming weeks as financial sponsors look to take advantage of the rebound in global equity markets since the start of the pandemic to raise cash to redeploy elsewhere.
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Shenzhen Zhaoheng Hydropower Group has obtained a maturity extension for a $128m loan sealed in 2017, after difficult market conditions put pressure on its refinancing abilities.
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Hansoh Pharmaceutical Group, a China-based drug maker, has pocketed HK$3.49bn ($450m) from a larger-than-planned issue of primary shares.
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Aston Martin, the UK luxury car maker, has successfully completed its £371m heavily dilutive rights issue, with a high take-up from shareholders, including a consortium led by Canadian billionaire Lawrence Stroll.
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Akesobio has bagged HK$2.58bn ($332.9m) from its IPO after sealing the trade at the top of the marketed price range, according to a banker on the deal.
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US banks this week reported stellar returns from trading and underwriting in the first quarter, even as the bottom line was hit by gigantic writedowns and reserves for credit losses, as the economic and financial disruption from the coronavirus crisis took its toll.
