United States

The dollar corporate bond market will face its first big test of 2020 when blue-chip borrowers emerge from earnings blackouts to take centre stage in February.

Vereker goes to JP Morgan — SG picks new CEEMEA DCM head — Goldman names new cross markets head

Jes Staley’s strategy has been vindicated, with Barclays’s corporate finance bankers having a banner year. But it has to invest in its European franchise to cement its credentials as the region’s leading investment bank, says David Rothnie.

DBV Technologies, the French biopharmaceuticals company that specialises in treating allergies, has successfully completed a $153m growth capital raise, despite market volatility earlier in the week owing to fears over the spread of corona virus in Asia.

Olaf Diaz-Pintado has been named head of Goldman Sachs’s cross markets group for Europe, the Middle East and Africa, while the bank has appointed new regional heads for its financial and strategic investors group.

Citic Capital Acquisition Corp, a special purpose acquisition company (Spac), has filed for a $200m IPO. It is targeting companies in the energy efficiency, clean technology and sustainability sectors.

JP Morgan has created a Development Finance Institution (DFI), which will see its investment bank originate and distribute assets scored on their developmental impact. But specialists have questioned the bank’s ambitions and raised concerns about how this unit will operate.

Records tumbled in the US bond market this week, as Bank of America and Toronto Dominion set new pricing records.

US blue chips started to emerge from earnings blackouts this week and print tightly priced dollar bonds, as spreads continued to grind tighter.

Credit Suisse has streamlined its investment banking and capital markets operation (IBCM) and is confident that it will return to form after a chastening 2019, writes David Rothnie.

There was a burst of activity from Chinese pharmaceutical and biotechnology companies in the equity capital markets this week, as the sector took centre stage following the spread of a flu-like virus that has already claimed lives on the mainland. Jonathan Breen reports.

Midea Group Co became the second Chinese company to be removed from the MSCI China All Shares Indexes and the MSCI Global Standard Indexes after its foreign ownership reached 28%.