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China-based Kintor Pharmaceutical has kicked off bookbuilding for its Hong Kong listing, the latest in a stream of healthcare IPOs in the city. The issuer is targeting HK$1.86bn ($240.1m) in proceeds.

Argentina’s dollar bonds climbed again on Monday after the issuer extended the deadline for a restructuring offer, as a change in tone from the government offered slight hope that an agreement can be reached.

Santander has surged to the front rank of the EMEA syndicated loan market since the coronavirus crisis began — the bank made a deliberate strategic push.

The percentage of triple-C rated loans held in CLOs has tripled to 12% in the past three months, leading 21% of outstanding deals to fail at least one overcollateralisation test, according to Bank of America.

Kroll Bond Rating Agency has upgraded three classes of notes in three CPS subprime auto ABS deals, highlighting increased level of credit enhancements. Despite a lack of obvious red flags in the sector, even as the pandemic persists, sources warn that highly levered subprime auto sponsors still face a rocky road ahead as used car values plummet.

The fallout from the Covid-19 crisis has touched nearly every economic and employment sector, from the largest corporations to the smallest businesses. The pain has prompted an unprecedented policy response aimed at rescuing economies and markets, and further measures are likely to come. US commercial real estate has been especially impacted, with commercial mortgage lending slowing dramatically, already struggling retailers going dark across the country and a likely rethinking of the use of space following a nationwide experiment in working from home.

Emerging market loan volumes have declined further amid the panic and uncertainty that Covid-19 has plunged the market into. Loan bankers show little optimism and say that the second quarter will likely resemble the first.

BMW Bank is set to reopen the European securitization market after the covid-19 lockdowns with its latest German auto loans deal.

Bernardo Martinez, managing director of Funding Circle US, is moving back to PayPal to serve as the vice president of global business financing solutions.

Both the European Commission and the European Court of Justice have put out statements dismissing the verdict of Germany's Federal Constitutional Court (BVG) on the European Central Bank’s Public Sector Purchase Programme, going some way to soothe concerns over the ECB’s future.

Eni saw chunky demand for the first Italian corporate bond sold since the coronavirus pandemic hit markets in March, but it had to pay up over its curve compered to oil industry peers from outside Italy.

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.