UBS

Industrial and Commercial Bank of China (ICBC) took plenty of plaudits last week, with a unique triple currency additional tier one (AT1) transaction that included a record-breaking offshore renminbi tranche. While some say that the trade was a testament to the depth of the CNH market, that is an argument too far. This was anything but a conventional trade.

Daimler-backed carmaker BAIC Motor capped a busy Monday for the Hong Kong equity capital markets and its first day of bookbuilding with a HK$12.15bn ($1.57bn) IPO that had secured enough demand from cornerstone and anchor investors to cover the book in full. Investors flocked to the listing after seeing that the company was willing to price at a decent range.

Auris Luxembourg, a holding company for Siemens Audiology Solutions, launched on Monday the high yield bond part of the financing package for the hearing aid maker's takeover by EQT Partners.

Dalian Wanda Commercial Properties has built strong momentum for its HK$29.76bn ($3.8bn) Hong Kong IPO, which launched to the market on Monday morning, bringing in 11 cornerstone investors to take up nearly $2bn of the trade. With the deal coming to the market very close to the end of the year, the presence of big-name institutions and sovereign wealth funds at the top helps support the company’s story, say bankers.

M800, which had been looking to close an up to $150m IPO in Hong Kong before the end of the year, has postponed the deal to avoid going up against BAIC Motor and Dalian Wanda.

British Car Auctions, the UK secondhand car seller, marketed £270m of secured leveraged loans at a bank meeting on Tuesday, as part of refinancing of its debt structure.

Fiat Chrysler Automobiles will imminently launch a deal of up to $2.5bn comprising both an equity offering and a mandatory convertible bond.

Fiat Chrysler Automobiles will imminently launch a deal of up to $2.5bn, comprising both an equity offering and a mandatory convertible bond.

Medtronic grabbed the record for the biggest high grade corporate bond issue of 2014 this week, as investors returned from their Thanksgiving breaks keen to put cash to work in one of the busiest weeks of the year.

BMW Finance returned to the New Zealand dollar bond market for the first time in more than three years on Monday with a NZ$100m ($78m) three year deal.

Sentiment towards China property companies took a positive turn this month after the People’s Bank of China (PBoC) cut its benchmark lending rate. Dalian Wanda Commercial Properties is primed to take advantage of the optimism and will open books for its IPO of around $5.5bn next week. But while equity investors are expected to welcome Dalian with open arms, others may not be able to attract the same following, write Rashmi Kumar and John Loh.

Nirvana Asia opened books for its HK$2.28bn ($294m) IPO on December 2, offering the shares at a level on a par with some of its closest comparables. And despite a busy week for the Hong Kong Stock Exchange, interest among investors for the Malaysian funeral services provider was strong right from the beginning.