UBS

Conditions in the primary FIG bond market have improved of late, tempting European issuers to bring subordinated trades. Rabobank made an appearance this week, adding to a flurry of trades in the format.

Shimao Group Holdings offered bond investors a rare 10 year tenor from the Chinese property industry, pricing the $300m deal inside of fair value.

Property developer Modern Land (China) Co has returned to the green market with a $250m bond.

One Equity Partners made its exit from Korea’s Celltrion Healthcare on Monday evening, cashing out of a stock that has rallied by about 97% over the past year.

A rally in Hong Kong and China’s equity markets on Monday buoyed sentiment among debt investors too. They pumped in orders of more than $10bn into Shanghai International Port (Group) Co’s dollar bond at the peak.

Amco Asset Management is looking to join the list of banks looking to print bonds in the rush to issue before earnings blackouts begin.

Mainland-based firms OcuMension Therapeutics and Immunotech Biopharm sealed their Hong Kong IPOs at the top of guidance, riding on support from both institutional and retail investors.

Philippine conglomerate JG Summit Holdings managed to tackle investor questions and scrutiny into the impact of Covid-19 on its business to make a rare bond market outing for $600m.

Unrated Swiss private railway operator Rhätische Bahn, owner of the UNESCO World Heritage-listed Bernina railway, made its second stop in the Swiss franc bond market this week, four years after its debut deal.

The huge demand seen for ThyssenKrupp Elevator’s buyout financing, the largest bridge loan left on banks’ books through the Covid-19 crisis, should reassure credit committees and capital markets operators that the LBO market is wide open again, for the right business. Owen Sanderson reports.

Fiat Chrysler Automobiles, the Italian-American crossover-rated car company, launched €3.5bn of bonds into the market on Tuesday, days after its Italian arm had agreed €6.3bn of bailout funds guaranteed by Italy.

UBS has created a new corporate finance group within the Greater China team that will mainly focus on the execution of IPOs, according to an internal memo seen by GlobalCapital Asia.