UBS

Nio, the Chinese electric car company, has launched bookbuilding for a convertible bond that will be worth as much as $650m, according to a source close to the deal.

Società per la Gestione di Attività (SGA), Italy’s bad loan management vehicle, is preparing to sell its first senior unsecured bond in the euro market. The company’s funding needs have risen amid a growing focus on cleaning up the Italian banking sector.

‘Tier two’ and ‘sustainability’ are labels that have never previously been combined in Asia. At least not until this week, when Kookmin Bank raised $450m from a Basel III-compliant deal.

There was a wall of supply from Chinese property companies at the start of the week. Road King Infrastructure and Yuzhou Properties brought a pair of callable four year bonds, but Jingrui Holdings and Fantasia Holdings Group both stuck to the very short-end of the curve.

Chinese new economy company Maoyan Entertainment priced its Hong Kong IPO this week, after a short delay that allowed it to add a high-profile cornerstone investor. Don’t let the deal’s bottom-of-the-range pricing fool you: the company and its banks made the right move.

UBS welcomed strong demand on Monday for its first ever additional tier one deal in Reg S/144A format, running up an order book of about $10.5bn mid-way through the sales process.

Chinese firm Maoyan Entertainment has sealed its IPO at the bottom of guidance, raising HK$1.96bn ($249.8m) in Hong Kong after an extended roadshow.

NWS Holdings and Sino-Ocean Group Holding received more than $4bn in orders for their respective bond outings, with their deals in hot demand both in primary and secondary markets.

Philippine gaming company PH Resorts Group Holdings has received the go-ahead from the Securities and Exchange Commission to issue Ps18.5bn ($351.92m) of shares in a follow-on offering.

Chinese drug developer Luye Pharma Group has closed a $300m loan after a five-month syndication.

The path from M&A rainmaker to CEO is a perilous one, as John Cryan and Andrea Orcel have proved. Will Christian Meissner be the next senior banker to try it, asks David Rothnie.

China Evergrande Group raised $3bn with a tap of three of its existing bonds, but the issuance put a dent in its secondary curve as noteholders fled to the juicier new deal.