Morgan Stanley

Microfinance institution Bandhan Bank has begun preparations for its IPO, according to a source familiar with matter.

Fintech firm Paysafe has disclosed the financial structure initial lenders have put in place before they begin marketing the all-leveraged loan funding of its acquisition by CVC and Blackstone from Old Mutual and Threadneedle.

Hyundai Capital Services shook off North Korea-related worries to hit the bond market at the start of the week, managing to reach its goal of $900m across two tranches.

European corporate bond market participants are expecting supply to start again after the UK bank holiday on August 28. Kimberly-Clark was the first issuer into the pipeline when it announced a European roadshow on Monday morning.

HDFC Standard Life Insurance Co submitted a listing application to the Indian regulator on Friday, with as many as 10 banks managing the float, which could be worth Rp100bn ($1.5bn).

China Great Wall Asset Management Co has mandated a whopping 20 banks for its next dollar bond, and is planning to meet Hong Kong investors on Tuesday.

Hyundai Capital Services is kicking off the week with a dual tranche dollar deal that will be sold to investors in Asia, Europe and the US.

Ford Automotive Finance (China) has pulled off an impressive return to China’s auto ABS market. The company raised an eye-catching Rmb3.46bn ($518.4m) from its latest deal — and brought in the first crop of foreign investors tapping Chinese ABS through Bond Connect.

Chinese live streaming platform YY tapped the US market this week with a block sale of American Depositary Shares (ADS), capitalising on a surging stock price. Bankers are preparing for a raft of similar block sales — as well as a growing list of US IPOs from Chinese companies. Jonathan Breen and John Loh report.

US plastics manufacturer Trinseo priced its new dollar refinancing bond deal with coupons more than 100bp tighter than the old notes. It is also marketing new term loans.

Global systemically important banks (G-SIBs) in the US will still have to issue billions of dollars of new bonds in 2017 to meet their regulatory requirements for long-term and loss-absorbing debt, potentially leading to a busy four months for primary market activity.

Peugeot Citroën’s joint venture in China is coming back to the ABS market on August 22 after a year-long absence. The automaker will approach investors with only one tranche, trimming from the two tranches offered on its debut. But that will not impact the size — the originator plans to triple its fund-raising with a Rmb3bn ($449.8m) offer.