United States

The prospect of a blockbuster bond deal from US pharmaceutical group AbbVie was welcomed by dollar bond investors this week, after corporate issuance tumbled to its lowest monthly tally this year.

Chinese online lender Qudian benefitted from active engagement with equity-linked investors to explain its business and growth potential to raise $300m from a popular convertible bond.

Chinese retailer Miniso is looking at floating on either the Hong Kong Stock Exchange or in the US, according to a source close to the situation.

New York-listed Qudian is seeking $250m from a convertible bond, with the company entering into capped call transactions with investment banks — an increasingly popular tool being used by issuers recently.

SC Health Corp has begun the process of listing on the New York Stock Exchange, filing an application with the US Securities and Exchange Commission.

Nasdaq-listed 360 Finance has kicked off an up to $122.5m follow-on offering of new and existing American Depository Shares (ADS).

In this round-up, China’s holdings of US treasuries reached the lowest level in two years, the Ministry of Commerce (MoC) promised to unveil foreign investment negative lists in 10 days, and Bank of China (UK) can now provide clearing services in London.

Hong Kong financial institution AMTD International is seeking to raise up to $200m through a US float.

In this round-up, US president Donald Trump and Chinese president Xi Jinping agreed to meet this month, the first active exchange-traded fund listed on the Hong Kong Stock Exchange (HKEX) and the volume of outstanding local government bonds rose again in May.

The dollar corporate bond market was ripe for new issuance on Thursday after the US Federal Reserve opened the door to a rate cut soon. But investors eager to buy were frustrated by a week of light issuance from infrequent issuers, which in some cases had to pay up for access.

Santander this week showed the breadth of its funding options with a third dollar deal in as many weeks as it exploited red-hot conditions for senior preferred paper.

E-commerce giant Alibaba Group Holding’s planned IPO of up to $20bn in Hong Kong is set to trigger a wave of other technology listings in the city, if successful. The timing couldn’t be better, as the US sets its sights on Chinese companies listed in New York. Gina Lee and Jonathan Breen report.