Morgan Stanley

Lagos-headquartered multilateral finance institution Africa Finance Corporation (AFC) signed a $140m-equivalent syndicated Kimchi term loan facility with Shinhan Bank — its first Korean-focused tool, as the bank diversifies its funding sources.

Czech consumer finance company Home Credit has shelved its potential Hong Kong IPO citing poor market conditions. The deal had been slated to raise up to $1bn.

China Overseas Land & Investment (Coli) found a conducive market window for its last bond issuance of the year, raising $294m from a 10 year deal on Wednesday.

Immobiliare Grande Distribuzione, a crossover-rated Italian property company, brought a sub-benchmark five year bond on Wednesday and shaved 25bp off the spread during execution.

Hong Kong’s PCGI Intermediate Holdings, a subsidiary of FWD, raised $250m from the bond market on Tuesday. While the company hit its size target, orders were limited and the price guidance was unchanged throughout the day.

Caixa Geral de Depósitos was seven times subscribed for its debut non-preferred senior bond this week, when it become the first Portuguese bank to launch a deal in the format.

Alphamab Oncology, a Chinese biopharmaceutical company, kicked off pre-deal investor education for a potential $250m IPO on Monday after gaining approval to list from the Hong Kong Stock Exchange.

Alibaba Group Holding has fixed the price for the retail portion of its secondary listing in Hong Kong after launching the deal without a marketing range, according to an announcement by the company.

OneConnect Financial Technology, an arm of Chinese financial conglomerate Ping An Group, has set the ball rolling for an up to $100m US IPO, having previously sought to list in Hong Kong.

China Aluminum International Engineering Corp (Chalieco) raised $350m from a senior perpetual bond after closing the order book much earlier than usual. Shanghai Electric (Group) Corp made a rare visit to the dollar market.

The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.

AbbVie enjoyed the undivided attention of US bond investors on Tuesday when it hit the market with a $30bn 10 tranche deal that, remarkably for such a big deal, priced with a negative new issue concession.