United States

China’s answer to Tesla is set to make a splash with its New York IPO. Nio is preparing a multibillion-dollar listing that will test investor appetite for the booming electric car industry. John Loh reports.

Starwood Property Trust was looking to price a $300m high yield bond on Wednesday to support the acquisition of GE Capital’s energy project finance business, as the firm looks to diversify beyond core commercial real estate activities.

Chicago-based futures brokerage R.J. O'Brien and Associates (RJO) has appointed Stephen Brodsky to its newly created chief strategy officer role, the company said on Wednesday.

A note by law firm Mayer Brown has advised counterparties trading with International Swaps and Derivatives Association (ISDA) documentation to consider special amendments if they want their contracts to take into account the effects of negative interest rates, referencing a recent court decision.

The summer break in European corporate bond markets has shortened in recent years to as little as two weeks in August, but investors know that the dollar market is always an option.

Recent cash flows from funds buying European corporate bonds and loans with speculative grade ratings have increased with support from US investors, as markets get ready for the second half of the year.

The Futures Industry Association (FIA) has called for greater transparency in efforts by US regulators to determine the method for calculating the notional threshold at which dealers have to be registered as swap dealers.

Nio, a Chinese electric car company, has started sounding out investors for its IPO on the New York Stock Exchange with an indicative size of $1.8bn.

The cost of insuring Turkish government debt has shot up as Turkey’s president Recep Tayyip Erdogan has refused to give way in a dispute with the United States.

Chinese peer-to-peer lender Weidai is seeking an IPO on the New York Stock Exchange, even as the troubled sector continues to reel from tightening regulations.

The drive launched by California treasurer John Chiang to promote a more vigorous municipal green bond market in the state comes as US local governments’ green bond issuance has dipped after early strong growth.

Elon Musk’s sensational claim to have funding in place to take Tesla private stunned the US capital markets this week, but the lack of substantive detail to the plan has largely reversed an initial rally in the firm’s equity and debt instruments, as well as reportedly drawing the attention of the Securities Exchange Commission. Aidan Gregory and David Bell report.