UBS

China Development Bank Financial Leasing Co has launched its Hong Kong IPO, covering the HK$7.6bn ($980m) float at the low end of guidance. But it has only managed to do so with mainland cornerstone investors propping up nearly 80% of the deal.

Chinese brokerage Everbright Securities Co is once again looking to join its many peers on the road to floating in Hong Kong, having refiled its application for a listing.

UBS has hired an experienced DCM banker from a bulge bracket house to lead its Latin American bond efforts as the Swiss bank enjoys its highest league table position in the region for nearly a decade.

Chinese investors are propping up most of China Development Bank Financial Leasing Co’s HK$7.6bn ($979.3m) listing, which launched on Tuesday with nearly 80% of the offer covered by mainland cornerstone investors.

China Development Bank Financial Leasing Co has finalised the marketing price range for its listing, which would raise HK$7.6bn ($979.5m) at the top end, and has signed up cornerstone investors to take up nearly 80% of the float, according to a source close to the deal.

The €2.5bn rights issue of Banco Popular Español has been oversubscribed, the bank will announce on Friday, after it won solid support from core shareholders.

The €1bn IPO and highly dilutive capital increase of Veneto Banca is thought likely by bankers involved to be bought in its entirety by Fondo Atlante, as happened to the similar €1.5bn deal for Banca Popolare di Vicenza at the beginning of May.

Equity capital markets bankers can feel satisfied that good planning led to an orderly and successful completion for half a dozen IPOs at the beginning of June, before fears of a possible Brexit really bit into market confidence. But they are now starting to assess the likely effects of the referendum on June 23.

Credit markets showed their capacity to surprise this week, as a varied array of issuers, including high yield and emerging market companies, raised funds, even though a referendum that could lead to the first country leaving the European Union is only a week away, writes Jon Hay.

Covered bond volumes were higher this week than last even as mounting fears of a UK decision to leave the European Union lead to greater volatility and increased execution risk.

Taiwanese green technology firm Giga Solar Materials Corp wrapped up its debut dollar convertible bond this week, raising $110m on Tuesday. For its first visit to the equity linked market in nearly two years, the low profile issuer had to provide a 100% asset swap to entice investors, writes Jonathan Breen.

The pre-summer rush for IPOs in Hong Kong is well underway with three companies starting investor education this week, even as stocks started Monday with a wobble.