UBS

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.

Electric vehicle manufacturer Li Auto sealed a scorching $1.1bn Nasdaq IPO this week, pricing above the marketed range to make it the largest US listing by a Chinese company in nearly two years. The deal proved there is still interest among mainland firms to list in the US, despite rising hostilities between the two countries, writes Jonathan Breen.

Mindspace Business Parks Real Estate Investment Trust wrapped up its Rp45bn ($601.3m) this week, treating India to its second listing in the asset class.

Chinese property companies Sunac China Holdings and Ronshine China Holdings came to the dollar market on Wednesday, both with four non-call two year bonds. But a smaller deal size helped Ronshine get away with a tight price.

Nestor Paz-Galindo has become global co-head of M&A at UBS, replacing Greg Peirce, with Philipp Beck succeeding him as head of M&A for Europe, the Middle East and Africa.

Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.

Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.