UBS

Lloyds Bank Corporate Markets spied an opportunity to launch a new senior bond on Thursday, with credit markets performing well despite the tougher backdrop in equities this week.

Charoen Pokphand Group has invited banks to join a $7.5bn dual-currency loan in senior syndication. The deal will support the Thai conglomerate’s acquisition of Tesco’s Asia business.

Issuers and investors in the Swiss franc market are grappling with much wider spreads on domestic and foreign issuers because of the volatility around the coronavirus pandemic.

Zur Rose, a Swiss online pharmacy group, revived the primary equity-linked bond market in Europe this week, issuing a debut Sfr175m five year convertible bond as demand for its services increases amid the Covid-19 crisis.

Chinese biotechnology company InnoCare Pharma’s shares surged over 10% on their Monday debut, following an online opening ceremony for the HK$2.2bn ($288.7m) listing in Hong Kong.

Chinese e-commerce giant JD.com has hired Bank of America and UBS to lead a secondary listing in Hong Kong, according to multiple sources familiar with the matter.

Chinese biotechnology firm InnoCare Pharma has priced its HK$2.2bn ($288m) IPO at the top of the marketed range, following solid demand from institutional and retail investors, according to bankers close to the deal.

Global equity capital markets suffered severe hits this week, as governments scrambled to respond to an escalation in the coronavirus pandemic. But amid the mayhem, InnoCare Pharma saw an opportunity to launch its IPO, treating Hong Kong to its largest listing in about two months. Jonathan Breen reports.

Thai conglomerate Charoen Pokphand Group’s $10.6bn purchase of Tesco’s Asia business has been hailed as a “landmark” deal that will liven up the region’s loan market. Bankers are now openly debating how they can get in on a financing that will tap both international and domestic liquidity. Pan Yue reports.

Chinese biopharmaceutical firm InnoCare Pharma kicked off bookbuilding for its Hong Kong IPO on Wednesday, securing over half of the deal with cornerstone investors.

Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.

Indian real estate developer Lodha Developers International offered investors a 14% yield to secure demand for its $200m bond, after being forced to widen pricing from initial guidance.