UBS

Ke Holdings has kicked off bookbuilding for a $2bn US listing. But it has come as one of its largest shareholders, internet giant Tencent Holdings, was blindsided by the US with sanctions.

Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.

Subordinated debt transactions in dollars from a trio of European banks left no doubts about the strength of the Yankee market this week. Bookrunners are encouraging issuers to execute trades in the asset class quickly, as they are unlikely to encounter better conditions before the end of this year, writes David Freitas.

Investors threw their weight behind Housing Development Finance Corp's Rp140bn ($1.87bn) fundraising this week.

Chinese real estate borrowers swarmed the international bond market on Wednesday, raising a combined $1.05bn across four transactions.

Indian private sector lender Axis Bank is set to price a qualified institutional placement worth up to Rp100bn ($1.34bn).

Credit Suisse opened books on a new additional tier one (AT1) in the dollar market on Tuesday, as bankers predicted that other European issuers could bring follow-on supply in the currency.

FIG deal arrangers predict the dollar market could come alive again in early August, as European banks exit earnings blackouts and weigh up their funding options.

UBS lit up the dollar market with a $2.6bn trade this week that went some way to filling the supply gap created by a lack of issuance from Wall Street’s big guns.

Hangzhou Tigermed Consulting is set to pocket HK$10.7bn ($1.38bn) from its Hong Kong secondary listing, with solid support from Chinese and global investors driving final pricing to the top of guidance.

Redco Properties Group offered investors a hefty 11% coupon for its new bond on Thursday, using up the last of its offshore fundraising quota to raise $220m.

Australia announced a bumper funding programme for 2020-21 on Thursday, almost double its previous effort. Two days earlier, the sovereign surprised the market with a long end deal that attracted a substantial amount of offshore interest.