United States

French auto-manufacturer PSA Group, which owns Peugeot, and Fiat Chrysler Automobile's (FCA) decision to explore a merger to create the world’s fourth largest car company is an important marker for an industry facing an uncertain future as sustainability and the environment become global priorities.

Dechra Pharmaceuticals, the UK veterinary pharmaceuticals company, has entered the US private placement (US PP) market, according to sources, in a debut set to test institutional appetite for the sector.

Chinese biopharmaceutical firm I-Mab has set the ball rolling for a potential $100m Nasdaq IPO, having filed a prospectus with the US regulator on Tuesday.

The Bank of Japan appears to have softened its stance on the country’s banks buying foreign CLOs, reporting that credit risk in the asset class is “subdued on the whole” following a slowdown in investment in the asset class.

Equity capital markets bankers are hoping that recent market optimism, driven by hopes of a trade accord between the US and China, will provide a positive backdrop in which to do accelerated transactions before the end of the year.

Hyundai Capital America has priced a $800m three year bond alongside a $700m seven year, raising more than expected from its latest outing.

Chinese firms Lizhi and Phoenix Tree Holdings are each planning US IPOs of up to $100m, according to listing documents filed with the SEC.

Bitcoin mining hardware maker Canaan has ditched a listing in Hong Kong SAR in favour of the US, filing for an up to $400m IPO of American Depository Shares (ADS) on Nasdaq.

Verizon Communications, the US telecoms group, is preparing to return to the Kangaroo bond market with a multi-tranche deal, offering maturities up to 20 years — far longer than its longest outstanding 10 year tranche.

NetEase-backed Chinese education platform Youdao fell by more than 25% on its debut on the New York Stock Exchange last Friday, after pricing its listing and concurrent private placement in the top half of guidance.

In this round-up, the Chinese Communist Party’s leaders will meet this week, the US and China held a phone call to discuss a trade deal over the weekend and fully foreign-owned Qingdao Yicai received a mutual fund sales licence.

In this round-up, the big five Chinese banks have boosted lending to small and micro enterprises by 30% this year, the Chinese Ministry of Finance is planning to issue a euro bond and China’s ranking in ease of doing business jumped to 31 from 46.