United States

In this round-up, US president Donald Trump threatened to raise tariffs again if a phase one deal is not reached, China is planning to set up a fund to promote its manufacturing industry and the US Senate passed the Hong Kong Human Rights and Democracy Act.

A shareholder group in Chinese education technology firm GSX Techedu have bagged $252m after selling a chunk of its US-listed stock.

Chinese company Genetron Holdings has filed initial IPO documents with the US regulator just days after getting a fresh injection of capital from a Vivo Capital-led private funding round.

The skinny pricing concessions and big order books that characterised this week’s US corporate bond issuance will not be sustainable as the year wanes, bankers have warned.

In an effort to please their bankers, US corporate treasurers have increasingly been using a mechanism called a risk participation agreement (RPA) as a way to divvy up swaps business to more parties, writes Ross Lancaster.

Teva, the Israeli-US pharmaceutical company, priced a $2.1bn bond package at the tighter end of the initial price thoughts this week. While it is yet to come to a settlement over its alleged involvement in the US opioid crisis, investors were happy to jump aboard a rare double-B issue yielding up to 7%.

The retirement of Samir Assaf, HSBC’s long-serving head of global banking and markets (GBM), paves the way for a long overdue restructuring of that division. This will test the bank’s new-look management team.

A slump in revenue growth during an economic downturn could trigger a change in investors’ risk appetite and a “widespread” sell-off of corporate bonds, the Organisation for Economic Cooperation and Development warned on Thursday.

Israeli-US pharmaceutical company Teva has priced a $2.1bn bond package at the tighter end of initial price thoughts. Although Teva is still to sign a binding global settlement on its involvement in the opioid crisis, investors were happy to jump aboard a rare double-B issue yielding as much as 7%.

Equity capital markets bankers are hoping to be busy with more accelerated trades over the next week and a half until the US Thanksgiving holiday on November 28, traditionally the beginning of the end of the ECM issuance year.

Ford Motor Credit Company mandated banks on Tuesday to lead a new Australian dollar deal, its first since 2016.

A group of shareholders in GSX Techedu has launched a follow-on offering of the Chinese education technology firm’s US-listed stock.