United States

Peer-to-peer lender China Rapid Finance is eyeing the bottom half of guidance for its US IPO, giving it a possible size of up to $105m, according to a banker working on the deal.

The Depository Trust & Clearing Corporation (DTCC) has named four new members to its board of directors.

Netflix is issuing its first bond in euros. It's a high yield bond, but not as we know it. It is single-B rated but the covenants are investment grade — though Netflix's leverage is racy. To buy it, you need to be a fan.

Politicians and regulators might say they want a safer financial system, but they want their banks globally competitive. There’s no better way to ease regulations than to play on these fears — but they’re not always grounded in fact.

Morgan Stanley was able to complete a huge €3.5bn offering of senior notes on Monday, adding to a recent €22.5bn debt binge from US banks following first quarter results.

Strong volumes at the start of the year and an easy comparison quarter have meant the US banks have posted stonking sets of investment banking numbers in their first quarter reporting. Goldman’s trading numbers may have disappointed, but broader business is booming on Wall Street.

Lowe’s Companies was the sole benchmark issuer to tap the dollar market as bankers raised concerns about the strength of the forward supply calendar despite record inflows into US high grade corporate bonds.

Goldman Sachs, for once, is not the darling of the Street, as first quarter numbers from the US major banks show the firm struggling to keep up with its peers, despite a benign backdrop for credit trading, the major strength of its fixed income division.

China Rapid Finance and Bright Scholar Education Holdings are venturing stateside to raise more than $300m from their IPOs.

ONE Championship, the pan-Asia mixed martial arts promoter and media company co-founded by a former hedge fund manager, is in early discussions with banks about a planned global listing in the US.

Bank of America on Tuesday joined the other large US banks in announcing strong first quarter results, booking profits for the period of near $4.9bn, some 40% more than in the first quarter of last year.

Peer-to-peer lender China Rapid Finance has launched bookbuilding for its US listing, which could raise $115m, according to a termsheet seen by GlobalCapital Asia.