United States

Chinese vape company RLX Technology raised $1.4bn from its US listing this week, pricing the deal above the marketed range after a huge turnout from investors.

Higher rates and execution certainty in the dollar bond market have given investors something to get excited about, with supply from financials in the currency outstripping that in euros so far this year.

SK Battery America, a subsidiary of South Korea's SK Innovation Co, found outstanding response for its green dollar bond on Tuesday. The firm was able to tighten pricing by 45bp, with the notes trading even tighter in the secondary market.

The relationship between the US and China, which has faced immense strain during Donald Trump’s presidency, is unlikely to get too much relief under the Biden administration. The biggest losers will be US banks and their capital markets business in Asia.

Cloopen Group Holding, a cloud-based communication provider, is planning to raise at least $100m from a US IPO of American depositary shares (ADS).

Primavera Capital Acquisition Corp, a special purpose acquisition company, is set to launch a $300m IPO on the New York Stock Exchange this week, extending a recent boom in Asia-focused Spacs.

Peter Enns, most recently global co-head of advisory and investment banking coverage (AIBC) at HSBC, is set to be the next chief financial officer at insurer Chubb.

Chinese e-cigarette manufacturer RLX Technology has drawn enough early demand to well oversubscribe its US IPO worth up to $1.16bn, according to a source familiar with the matter.

Credit Suisse has promoted Ted Michaels, its head of North America renewables in New York, to a new global position overseeing investment banking in renewables and sustainable energy technology.

This week in Keeping Tabs: a key weekend for Germany's future, and Biden's stimulus plan.

The dollar corporate bond market has a more subdued feel this week, after its stellar start to the year, as US issuers are moving into earnings blackouts. But even as politics took centre stage as Congress moved to impeach President Donald Trump for the second time, ahead of Joe Biden’s inauguration on January 20, corporate borrowers quietly churned out deals.

Electric vehicle manufacturer Nio raised $1.3bn from a dual-tranche convertible bond this week, while trimming its existing debt with a concurrent buyback.