North America

As capital markets bankers gradually start to spend more time back in the office, a nuanced debate is playing out over how much flexibility they can expect to enjoy with regard to remote working when pandemic restrictions are finally lifted.

LinkDoc Technology, a cancer-focused medical data company, has shelved its US IPO just hours before pricing, as Chinese technology stocks recoil from Beijing’s clampdown on overseas listings.

Mexican car parts maker Nemak sold its second sustainability-linked bond in a month on Wednesday, raising €500m in a deal that bankers said marked the company’s migration from high yield to investment grade covenants — though it has just one IG rating.

On Tuesday, Mexico sold its second international bond explicitly aligned to the United Nations’ Sustainable Development Goals, printing the 15 year note at the same spread over mid-swaps at which it had sold a seven year SDG bond in September.

China's latest crackdown of three of its technology companies has a clear message for firms looking to list in the US — and investors wanting to buy their shares.

Rothschild & Co has hired Timothy Lufkin as a managing director covering financial sponsors within its global advisory business in New York. Lufkin previously worked at Truist and its predecessor, BB&T Capital Markets.

Mexican car parts maker Nemak began meetings with European investors on Monday as it looks to become the first Latin America borrower to sell sustainability-linked bonds in more than one currency.

Banks that have access to diverse pockets of demand will be far better equipped to deal with any contraction in central bank liquidity, which could occur if high inflation spooks policy makers and markets.

Canadian Imperial Bank of Commerce achieved a roaring success with its $2bn five year 144A deal priced on Wednesday, the first from a Canadian bank in over a year. CIBC managed to achieve a size and spread that would not have been possible in euros and showed the importance of paying attention to key currency markets outside Europe.

UBS has appointed global heads of equity capital markets for the first time in almost two years as the Swiss bank eyes opportunities in a booming IPO market.

Chinese ride-hailing giant Didi has raised $4.4bn from its New York Stock Exchange IPO, increasing the size of the float after investors pumped more than $40bn of orders into the book.

An exciting rebound in the flow of China-into-US listings took an unexpected hit last week when online grocery start-up, Missfresh, plummeted on the first day of trading. While this is worrying, investors are still positive around these IPOs.