United States

Bill Ackman’s hedge fund management company Pershing Square Holdings has sold $400m worth of 20 year bonds to Guggenheim Partners Investment Management.

Wanda Sports kicks off IPO bookbuild — CloudMinds starts gauging interest for $500m float — NetEase's Youdao eyes US listing — Alphamab Oncology gears up for HK deal

China’s DouYu International Holdings ended a three month journey to a Nasdaq listing this week, closing the biggest Chinese deal on the exchange this year. The company was forced to price the shares at the bottom of guidance, but returned with a much bigger size than originally planned. Gina Lee and Jonathan Breen report.

Ilfryn Carstairs, global chief investment officer at alternative investor Värde Partners, will become co-CEO from next year, while keeping his co-CIO title.

Online education platform Youdao is working with a pair of US banks for a potential New York listing, according to a source familiar with the matter.

Chinese robotics company CloudMinds has started sounding out investors for a $500m IPO of American Depository Shares (ADS) on the New York Stock Exchange, according to bankers close to the situation.

The S&P 500 may have closed above 3,000 on Friday, a new record high for the index, but flow data suggests that few active managers are taking advantage of the bull market in primary or secondary.

Six months after receiving the licence to rate Chinese domestic issuers and their issuance programmes, S&P Global (China) Ratings has provided its first rating in the Mainland.

China’s Wanda Sports Group began a week-long bookbuild on Monday morning, with a plan to raise as much as $500m on the Nasdaq.

Tobam, the French asset manager, is ensuring its fixed income portfolios have carbon footprints at least 20% smaller than those of their reference benchmarks, extending a policy already in place for equity portfolios. It is focusing on the carbon footprint of issuers, rather than individual issues, meaning that it would ignore the specific environmental qualities of a green bond.

In this round-up, GDP growth slowed in the second quarter, exports to the US dropped further and total social financing growth showed the need for more policy easing

The financial institutions bond market is showing no signs of fatigue in Europe, with US financial services company Jefferies Group preferring euros over dollars for the first time since 2014 on Friday. There was some debate about fair value for its €500m deal, given the lack of outstanding comparables.