North America

The Republic of Finland had to share its return to dollar market on Wednesday with a trio of three year SSA deals. Demand for dollar SSA bonds has been strong this week, and with mandates out for five and seven year deals,issuers are still looking to take advantage

US taxi company Lyft has issued a new $650m convertible bond to raise capital to see itself through the Covid-19 crisis, joining the horde of US companies that have turned US equity-linked into one of the hottest corners of the capital markets during the pandemic.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, has set the ball rolling for a Nasdaq IPO.

Companies that pay little tax have suffered worse share price declines during the coronavirus pandemic than the market as a whole — a result that suggests investors may at last be taking notice of this long ignored aspect of corporate governance.

Diversified Gas and Oil, the London-listed US oil and gas firm, has raised £69.4m of equity to help fund a package of potential acquisitions, taking advantage of continued low global oil and gas prices.

Fater Belbachir is joining Citi as head of equities, a year after taking on the same position at Barclays. The US bank is changing the leadership structure of its equities and securities services business (ESS).

Five public sector borrowers are marketing dollar bonds across the curve kicking off what it is expected to be a busy week in the currency.

Chinese hotel company Huazhu Group has returned to the equity-linked market, raising $450m from a bond convertible into its American Depository Shares (ADS).

Chinese company Kingsoft Cloud Holdings has raised $510m after boosting the size of its Nasdaq float.

HSBC Canada issued the most oversubscribed dollar-denominated Canadian covered bond in years on Thursday, and still managed to price 28bp tighter than the Canadian heavyweights.

The top tier of emerging market companies and sovereigns are funding themselves at near pre-coronavirus levels, but there is stark inequality in the market. The vast majority of EM corporates will have to sit out a while longer as funding costs remain prohibitively high for triple- and double-B rated issuers, writes Oliver West.

The record-breaking pace of US corporate bond issuance shows no sign of abating as more than 20 issuers from across the ratings spectrum dashed out of earnings to issue this week, amid red-hot funding conditions.