North America

Cinnober Financial Technology has appointed three individuals to key roles across its business, including Fredrik Nihlén as group CFO.

The furore over Elon Musk’s public declaration that he was seeking to take Tesla private ended, when he reversed his decision last week. Tesla’s equity and debt holders must assess whether they are comfortable with Musk retaining almost sole control over corporate strategy.

Two major derivatives industry trade bodies have warned of “fragmentation” and a “severe” impact on cross-border derivatives activity if a looming clearing deadline for certain intragroup transactions is not sufficiently extended.

Chinese biotechnology firm Zai Lab is tapping equity investors for around $150m, hitting the market with a follow-on sale of American Depository Shares (ADS).

LAIX, which runs English teaching app Liulishuo, is planning to float on the New York Stock Exchange for up to $100m.

The leveraged loan pipeline for September coughed into life this week, as AkzoNobel Specialty Chemicals unveiled the first jumbo deal of the week, a €5bn loan to support its buyout by Carlyle and Singaporean government fund GIC.

Chinese integrated online healthcare provider 111 has opened books for its IPO of American Depository Shares (ADS), which is slated to raise $148.8m.

SIX, an exchange company in Switzerland, is angling to take full advantage of the advent of distributed ledger technology (DLT). With its new digital asset platform, the company hopes to profit from easier securities settlement and a new method of raising capital that involves issuing cryptocurrency.

​New regulations have uncovered heaps of data that markets are struggling to handle. But as participants discover issues exist they did not realise existed, the data revolution will result in safer and more efficient markets for all.

Bankers are preparing to hit the ground running when they return from the Labor Day holiday next week primed for a glut of high grade corporate supply.

Canadian Imperial Bank of Commerce paid up to tap a euro-denominated senior bond on Wednesday, getting ahead of regulations next month that will make all senior debt subject to bail in. Bank of Nova Scotia also took out over $1bn equivalent of funding in Australian dollars this week.

Aerospace and control systems group Honeywell is poised to tap investors in both Europe and the US as levfin markets return to action next week. The firm will look to high yield buyers to help fund the separation of subsidiary Garrett Motion, but a portion of investment grade debt will also be on the table.