Coronavirus

Chinese toy company Pop Mart International Group has launched its IPO, looking to fund expansion with up to HK$5.2bn ($674m) in fresh capital.

The Central American Bank for Economic Integration (Cabei) said it became the first multilateral lender to sell a Covid-19 “vaccine bond” after raising $50m of five-year money to support immunisation initiatives when Covid-19 vaccine becomes available.

Rank Group, the UK gambling conglomerate that owns Mecca Bingo and Grosvenor Casinos, completed a capital raise for 19.9% of its share capital, to give it enough headroom to manage through the next stage of the Covid-19 pandemic.

Carlos ‘Sonny’ Dominguez, finance minister of the Philippines, has been forced to swap long-term planning for emergency responses to the coronavirus. He talks to GlobalCapital about what comes next.

Industrial Bank Co has locked up more than $800m-equivalent from an international bond sale earmarked for green and social projects.

New national lockdowns in France and Germany smashed secondary equity markets this week, but ECM bankers are confident that as the shock subsides there will still be deals to do.

Concerns over the worsening coronavirus infection rate in Europe sent bank spreads wider on Thursday, as investors avoided taking on risk in the secondary market.

South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.

As Europe moves into a second wave of coronavirus cases, banks could soon return to the market with more Covid-themed bond issuance. However, issuers that do choose to tap the market may find themselves competing with the European Union.

Leveraged finance bankers coping with a slump in deal flow in Asia this year are gearing up for a bumper start to 2021, as a return of liquidity and growing interest from institutional investors for loans set the stage for a market revival. Pan Yue reports.

Thai hospitality firm Asset World Corp and Hong Kong’s China Everbright Environment Group both tapped the green loan market this week.

Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.