Morgan Stanley

Zhaoheng Hydropower (Hong Kong) has missed a payment on a 2017 dollar loan. It had extended the maturity on that deal earlier this year.

Chinese biopharmaceutical firm RemeGen has raised HK$3.99bn ($514.7m) after pricing its IPO at the top of the marketed range, according to a source familiar with the matter.

The Shanghai bourse stunned the market on Tuesday after halting Ant Group’s $34bn IPO, a deal which was set to be the largest listing in history. The extraordinary move, likely spurred by comments from Ant’s co-founder Jack Ma that criticised authorities for stifling innovation in China, is expected to delay the listing by at least six months. It will also force investors to revalue the company.

Ping An Insurance-backed Lufax Holdings is expected to price its American depositary shares at the top of guidance, following a large turnout from global heavyweight investors for its IPO.

Chinese biopharmaceutical firm RemeGen will close the international orderbook for its Hong Kong IPO early as the deal is already many times covered, according to a source close to the listing.

Rating: Aaa/AAA

Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.

Galaxy Pipeline Assets Bidco, a group of international investors that provided Abu Dhabi National Oil Company (Adnoc) with $8bn in a pipeline partnership deal earlier this year, has raised a $4bn triple tranche bond to refinance half of the loan that funded the team-up. The deal is, according to banks, the largest project bond ever raised.

RemeGen, a Chinese biopharmaceutical company, has rolled out a Hong Kong IPO that could be worth up to HK$3.99bn ($514.5m).

World Bank took size with its second ever euro 30 year benchmark on Tuesday, achieving a far more impressive outcome than its debut deal in that part of the curve last year.

Austrian semiconductor maker AMS has returned to the convertible bond market for more financing, raising €750m.