UBS

Nordea Bank took advantage of very attractive conditions in the dollar market this week to price a new senior deal at a spread that was well below the fair value implied by secondary trading levels.

Chinese online game developer NetEase had covered its HK$21.6bn ($2.8bn) secondary listing in Hong Kong multiple times over by the time GlobalCapital Asia went to press on Thursday. Investors have long awaited the company’s return from the US, pumping in orders as markets rallied despite numerous geopolitical headlines. Jonathan Breen reports.

Hongkong Electric skipped a roadshow for its return to the dollar bond market after a four-year hiatus, relying on its rarity value and the defensive nature of the utilities sector to raise $500m.

Sumitomo Mitsui Banking Corp sold its largest every Australian dollar deal on Tuesday, scooping up A$2.4bn ($1.6bn) of senior unsecured paper through its Sydney branch.

Online game developer NetEase has begun bookbuilding for its long-awaited Hong Kong secondary offering. The company is aiming to raise around HK$21.6bn ($2.8bn).

A pair of foreign banks mandated senior unsecured Australian dollar transactions on Monday: Sumitomo Mitsui Banking Corp is out with initial price thoughts through its Sydney branch, while the Canadian Imperial Bank of Commerce is preparing a Kangaroo benchmark.

Geely Automobile Holdings has tapped the equity market for the first time for 11 years, raising HK$6.48bn ($836m) from an overnight share sale.

Firmenich, the Swiss fragrances company, reopened Europe’s corporate hybrid market on Wednesday, as similar deals lined up from companies including Dutch utility firm Tennet.

A shift in the Swiss franc-dollar basis swap has been enough to deter , foreign issuers from the Swiss bond market this week, leaving it to a Swiss biomedical market regular and a Liechtenstein-based power tool manufacturer.

Bank of Nova Scotia was looking to test investors’ appetite for one of first additional tier one transactions of the coronavirus pandemic on Thursday, helping to set a reference point for pricing in the asset class.

Fantasia Holdings Group Co nabbed $300m from a bond sale on Wednesday, making it the latest high yield Chinese property borrower to dip into the offshore market.

Banks are bounding back into the Kangaroo market. On Wednesday, BNP Paribas jumped in to sell the first syndicated Australian dollar senior non-preferred deal since the start of the Covid-19 crisis, later that day the Bank of Nova Scotia announced plans to join the fray with a mandate for a three year bail-inable deal.