North America

China’s Dada Nexus, an operator of on-demand retail and delivery platforms, has launched bookbuilding for its up to $280.5m US listing, according to a source familiar with the matter.

Mexican cement maker Cemex is likely to announce a new dollar bond first thing on Tuesday after holding investor calls on the same day Fitch downgraded the borrower and placed it on negative outlook.

Online game developer NetEase has begun bookbuilding for its long-awaited Hong Kong secondary offering. The company is aiming to raise around HK$21.6bn ($2.8bn).

A pair of foreign banks mandated senior unsecured Australian dollar transactions on Monday: Sumitomo Mitsui Banking Corp is out with initial price thoughts through its Sydney branch, while the Canadian Imperial Bank of Commerce is preparing a Kangaroo benchmark.

US-listed internet giant NetEase is set to launch its Hong Kong secondary public offering, after getting the green light from the city’s stock exchange.

Biopharmaceutical company Legend Biotech Corp has kicked off bookbuilding for its Nasdaq IPO of up to $368.5m, according to a source familiar with the matter.

Alberta made its first foray into the Norwegian kroner market on Thursday — the same day that S&P placed the province’s credit outlook on negative.

Each week, the very best of what our newsroom have found most useful, interesting and informative from around the web. This week: what being in charge of a leading reserve currency actually means, how business travel might return, and a power play from Warrington Borough Council.

May has been another stellar month for US corporate bond issues, but issuance is expected to fall sharply as lockdown restrictions start to be lifted and international political concerns return to centre stage.

Bank of Nova Scotia was looking to test investors’ appetite for one of first additional tier one transactions of the coronavirus pandemic on Thursday, helping to set a reference point for pricing in the asset class.

Insurance company Phoenix Group Holdings launched a tier two in the dollar market on Thursday in a refinancing exercise, making use of favourable conditions across the board with a "well received" trade. But the issuance raised some concerns regarding the company’s plans to deleverage after its acquisition of ReAssure.

Nomura is eyeing acquisitions and a change in chief executive promises a reboot of its investment banking ambitions, writes David Rothnie.