United States

Lloyds Banking Group asked permission from investors this week to change the reset rates on two of its additional tier one (AT1) securities so they bear reference to Sonia. The move is likely to kick off a trend in sterling and in dollars, as market participants prepare for the death of Libor.

Chinese data centre operator Chinadata Group Holdings has guided investors to the top of price guidance for its Nasdaq listing, eyeing $540m from the deal, according to a source familiar with matter.

Fannie Mae’s and Freddie Mac’s drive to buy floating rate loans that reference the secured overnight financing rate is charging up a nascent market in interest rate caps that reference the Libor replacement.

Goldman gives new positions to Marsh, Verri and Sorrell — Bain picks ESG boss — Falth turns up at Mizuho

Kingsoft Cloud Holdings, backed by smartphone maker Xiaomi Corp, has raised $509.1m from a follow-on offering of American Depositary Shares, according to a source familiar with the matter.

The European IPO market is continuing to churn out deals, but a return of volatility in secondary equity markets is starting to cause discomfort among syndicate bankers, who say they must proceed with caution in the weeks ahead.

Diploma, the UK maker of seals, wiring and healthcare equipment, got solid support from its shareholders and new investors as it raised £194m of equity on Wednesday to complete the acquisition of a US cable distributor.

When you go down to the woods today, you’ll be in for a big surprise — hedge fund managers.

Chinese companies Chindata Group Holdings and Yalla Group have kicked off their US IPOs, testing investor appetite at a time when sentiment is weak and major equity markets have taken a hit.

SolarEdge Technologies, the Nasdaq-listed Israeli smart energy company, has raised $500m by issuing a new five year convertible bond, tapping into the tremendous amount of investor appetite for ESG-friendly companies.

Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

Kingsoft Cloud Holdings has hit the market with a follow-on offering of new and existing American Depository Shares (ADS).