North America
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Goldman is not the only US bank on the reputation radar this week. Wells Fargo’s sales scandal is a signal that, even in an industry as publicly loathed as banking (and we are well aware that the news media is another), reputation risk is to be taken seriously.
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The Depository Trust & Clearing Corporation has named the replacement for a departing senior official from its solutions and sales business. -
Goldman Sachs raised €1.25bn in callable senior debt on Thursday, showing other US banks that European accounts are comfortable investing in the total loss absorbing capacity (TLAC) friendly asset class.
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Industrial and Commercial Bank of China’s New York branch was forced to scrap a 10 year portion of a dual tranche bond on Monday because of a disagreement with investors over what it should pay. But all was not lost, as the issuer decided to make the most of the demand for the shorter tenor, taking home $1bn in the end, writes Addison Gong.
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China Resources Pharmaceutical Group, Samsung BioLogics and ZTO Express all have investors clamouring to join their IPOs, as they look to raise a combined $5.2bn.
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Chinese data firm GDS Holdings has opened its potential $270.2m US IPO, which is expected to replicate the strong interest received by other recent listings in the country from Mainland names.
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Wells Fargo took a rare decision to delay the launch of a dollar-denominated senior transaction this week, after S&P revised the bank’s ratings outlook to negative.
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A group of banks and service providers, led by New York based start-up Axoni, have completed a test of blockchain technology and smart contracts to manage affirmations and post-trade lifecycle processing for over-the-counter equity swaps, building on similar work done earlier this year for credit derivatives.
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ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.
