North America

China’s Niu Technologies has launched bookbuilding for its $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources don't expect the trade to be a blowout.

KfW and the Province of Ontario will hit separate parts of the dollar curve on Wednesday, with the former circulating what one on-looking banker described as “punchy” price thoughts. The deals followed a well-received floating rate note from a German Land that doubled in size.

Newlon Housing Trust, a north and east London housing association rated A3 by Moody's, has returned to the US private placement market, raising £135m.

There is a “convincing relationship” between risk coming from poor application of environmental, social and governance (ESG) policies, and the credit default swap (CDS) spreads of corporate issuers, according to a new report by Hermes Investment Management.

Weidai, a Chinese peer-to-peer lender, started drumming up interest for a possible $100m IPO on the New York Stock Exchange on Monday.

Azure Power Global, the Indian solar energy producer, raised $185m from a follow-on offering after its Canadian shareholder stepped in to buy more shares than expected.

A spike in US Treasury yields on Thursday had a knock-on effect on bond spreads in Asia, posing an additional challenge for issuers ready to head out the gates next week.

Yankee banks continued to dominate the high-grade calendar as lenders from across the globe teed up benchmark deals.

Comcast got October off to a flyer after high-grade corporate dollar issuance slumped to its weakest level for four years in third quarter. However, aside from Comcast there were slim pickings in the high-grade market this week.

Comcast wowed the dollar market with the fourth biggest corporate bond of all time as investors jumped in to produce a bulging order book against a strong technical backdrop.

The International Finance Corp became the first issuer to launch a green Komodo bond — an offshore bond in Indonesian rupiah — on September 28. But the World Bank had the same idea: it launched a sustainability bond in rupiah the following week.

American real estate investment trust (REIT) WP Carey paid a significant premium when it sold its second euro deal of 2018 on Tuesday. Despite the lack of reverse Yankee issuance this year, investors needed some persuading to buy the 7.5 year deal.