UBS

Hong Kong property developer CK Asset Holdings priced its $300m bond at a record tight level for a fixed-for-life deal on Thursday.

Yum China, the Mainland-based fast food franchise operator, was eyeing at least HK$17.3bn ($2.2bn) in fresh equity on Friday after giving investors some price guidance for its secondary listing in Hong Kong.

Hong Kong-based conglomerate First Pacific Co had to navigate underperforming bonds from peers and difficulties around price discovery for its $350m bond return.

Chocoladefabriken Lindt & Sprüngli sold the week’s tastiest Swiss franc deal when it returned to the market on Tuesday to refinance an upcoming Sfr500m ($549.8m) redemption.

Fast food franchise operator Yum China Holdings is cooking a multi-billion-dollar secondary offering in Hong Kong. It is the latest deal in a growing trend that bankers expect will bring more US-listed Chinese companies to the exchange by the the end of 2020, writes Jonathan Breen.

Chinese property developers China South City Holdings and Kaisa Group Holdings offered generous premiums for their bond outings this week in a bid to ensure strong aftermarket performance.

The top investment banks will achieve substantially higher returns on equity this year, predicts analytics firm Coalition, after revenues in fixed income, currencies and commodities (FICC) soared in the first half of the year.

Erste Group Bank kept the tap open on subordinated supply in the euro market this week with a €500m 11-year non-call six deal.

Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.

Hong Kong property developer Nan Fung International Holdings returned to the market with a $500m fixed-for-life perpetual bond in a bid to manage its liabilities and score lower interest rate for its debt.

Yum China Holdings, a fast food restaurant franchiser, launched the roadshow for its secondary listing in Hong Kong on Monday to strong early momentum from investors.

The offices of London’s top banks are unlikely to fill up in the coming weeks, as firms are adopting a gradualistic approach to returning staff to their pre-pandemic workplaces.