North America

Chinese data centre operator GDS Holdings has pocketed HK$12.9bn ($1.67bn) from its secondary offering on Hong Kong’s stock exchange.

An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets, as a punishment for its support for polluting industries. But while it is a laudable aim, it is not practicable.

HSBC's credit and equities business lines were the standout performers in the global banking and markets division (GBM) in the third quarter, the bank's results showed on Tuesday. Meanwhile, group chief executive Noel Quinn said the firm was adapting its business model to chronic low interest rates.

Bankers are confident that Canadian covered bond issuance will resume after the Bank of Canada withdrew the repo eligibility of retained covered bonds, while honouring existing repo deals. But bankers are split as to whether supply will restart this year or be deferred until next year.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, October 26. The source for secondary trading levels is ICE Data Services.

Ping An Insurance-backed Lufax Holdings has covered its $2.36bn US listing. Global heavyweight investors flocked to the long-awaited deal.

Total Play Telecomunicaciones, the Mexican telecommunications company, is approaching international bond investors for the first time. With some EM investors saying they are ready for a pre-US election lull in bond issuance and mixed fortunes for recent new Latin America deals, it could provide a good test of the state of play in the region’s primary markets.

Barclays enjoyed a record quarter in equities, but in its advisory and equity capital markets it lagged behind competitors, it showed in third quarter results on Friday.

Lufax Holdings, a personal finance services platform, has opened books for its offering of American depositary shares (ADS). It is aiming to raise up to $2.36bn.

HSBC has poached a senior banker from Citi to run banking in its Americas business.

T-Mobile brought its bond issuance this year above $30bn this week, when it printed its second jumbo deal in a month.

Christian Meissner has an exciting new position at Credit Suisse. But how far can he improve the Swiss bank’s offering to wealth management clients while also handling its culture, asks David Rothnie.