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RCI Banque, the finance subsidiary of Renault, has kept the car industry's bond market revival going, by issuing a €500m no-grow bond today.

Dali Foods Group Co has given the Hong Kong IPO market a burst of excitement, launching a HK$10.4bn ($1.34bn) listing that could become the biggest float by a privately-owned company in the city this year. Bankers are touting it as the first deal in a long time to conduct a real institutional bookbuilding rather than simply relying on Chinese state-owned enterprises for demand. Rashmi Kumar reports.

Italian oil and gas company TotalErg has cut the size of a facility and mandated banks in its latest loan refinancing.

Demand for Turkish lira MTNs is likely to rise after the country’s Justice and Development party (AKP) won a majority at parliamentary elections on Sunday, encouraging confidence in the currency.

Solina, the French food ingredients supplier, is arranging €362m of new debt facilities in relation to its buyout by Ardian.

Member economists of the crowdsourced online tool for assessing sovereign risk, Euromoney Country Risk, believe that Jordan’s prospects have lifted over the past year.

The corporate hybrid capital market is a fragile origami form designed to please rating agencies, tax authorities, accountants and investors all at once. Standard & Poor’s disrupted it last week by stripping equity credit from 29 deals. The market will get over this. But fundamentally, it remains in denial: hybrids, as they stand, are not a stable, reliable product.

HSBC took a big step forward in furthering its China ambitions this week, entering into an onshore joint venture securities firm with Shenzhen Qianhai Financial Holdings. The first priority is to launch an onshore debt business but the bank has ambitions eventually to offer a full range of investment banking services. Rev Hui reports.

Primary activity has finally returned to the Asia ex-Japan high yield market following a hiatus of close to three months, with Future Land Development Holdings launching a deal on Thursday. While the pipeline remains thin, market participants are taking heart that not all is lost for the asset class, writes Rev Hui.

Bank of Communications (BoCom) has become the second credit card ABS originator in China after completing a Rmb5bn ($790m) trade backed by instalment payments this week.

The cash strapped Republic of Angola had its prayers answered with a successful $1.5bn Eurobond this week, which it priced some three years after first starting to pick leads. Rival bankers did not see eye to eye on final pricing, but the injection of foreign currency into the government’s coffers was still a boon for Angola’s finances, said analysts.

Switzerland’s largest canton returned to the Swiss franc market after a long absence on Tuesday, with a 12 year deal that was heavily oversubscribed.