United States

North Carolina-based health technology company Iqvia managed to shave off a chunk of its interest expenses on Wednesday by refinancing its $800m bond in the euro market. Investors grabbed the opportunity to invest in a high-growth listed company, which are still rarities in Europe, a banker involved in the deal said.

UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.

Chinese robotics company CloudMinds has taken its foot off the pedal for its New York Stock Exchange IPO, initially expected around this week, and is instead waiting for less volatile global capital markets, according to sources close to the deal.

Chinese media company Wanda Sports Group has raised just $190.4m after pricing its Nasdaq listing below the marketed range, despite having already revised down the initial guidance and size of the IPO.

Hong Kong-headquartered AMTD International has launched bookbuilding for its New York Stock Exchange listing, seeking to raise up to $176m.

Chinese financial accounting platform 9F has set the ball rolling for an IPO in the US that will be worth as much as $150m.

In this round-up, the US and China will meet in Shanghai next Tuesday to continue trade negotiations, newly elected UK prime minister Boris Johnson showed some love to China and Mainland regulators are continuing a crack-down on real estate financing firms.

HSBC’s new global banking boss has quietly redesigned the division and fleshed out a cohesive corporate finance strategy that plays to its strengths, writes David Rothnie.

US Democrat senator, and presidential hopeful, Elizabeth Warren wants to upend private equity. She has proposed a bill which would stop PE money flowing to some sectors altogether and would send deal numbers and valuations plunging. But it could also lower borrowing costs, reports Karoliina Liimatainen.

JP Morgan became the first US bank to issue a preferred bond linked at the back-end to the secured overnight financing rate (Sofr), amid a torrent of bank supply in dollars this week.

As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.

Wanda Sports Group has cut 38% off the size of its live US IPO, having reduced the stock on offer and trimmed price guidance as it confronts investors nervous over their unfamiliarity with the company.