North America

HICL Infrastructure, the UK-based infrastructure equity investor, has launched a capital raise to repay £75m worth of debt in order to shore up its finances for further acquisitions.

In this round-up, the UK bars Huawei Technologies from its 5G mobile network, the Chinese foreign ministry retaliates against recent US sanctions, and Donald Trump signs an executive order that ends Hong Kong’s preferential trade treatment.

Just two benchmark issuers — Mars and Hewlett-Packard Enterprises — came to the US corporate bond market this week, as earnings season pushed corporate America into blackout. But after a short lull, bankers expect a spike in issuance as companies try to fund before the US election.

A trio of SSA borrowers hit the market for dollar paper this week, testing the waters across the curve and finding investors receptive. Although the top tier names are mostly well funded, demand is still hot for the extra yield offered by the second layer of SSA borrowers.

Mexican real estate investment trust Fibra Uno returned to the bond markets on Wednesday to price a postponed tap of its 2030 and 2050 notes.

HSBC’s global head of ECM is under no illusions about the challenges the bank faces but says HSBC’s restructuring is not one of them. David Rothnie reports.

The Province of Alberta hit the market for a 10 year deal, raising $2bn and impressing onlookers with a solid order book. Its peer Quebec will follow up on Thursday with a five year. But despite Alberta's success, further supply at the tenor may be limited.

Atlantica Sustainable Infrastructure, the New York-listed Spanish infrastructure company focused on renewable energy assets, is the latest company to sell a green convertible bond.

A 5.75m American Depositary Receipt (ADR) trade in HeadHunter Group, a company which produces software for recruiters, has become the latest in a string of Russia equity placings.

Chinese online travel company Trip.com Group has bagged $500m from its debut tap of the equity-linked market.

D8 Holdings, a special purpose acquisition company (Spac), has raised $300m after increasing the size of its US listing.

Equity investors have welcomed rumours that Japanese conglomerate Softbank is exploring a potential IPO for Arm, the UK semiconductor and software designer, and are hoping that the company might return to the London Stock Exchange.