Mubadala Capital is anchoring FWD Group’s Hong Kong IPO with a US$150 million investment, as the insurer looks to raise around US$500 million in a deal led by Morgan Stanley and Goldman Sachs.

The bonds' five tranches raised HK$27bn, with the 30-year HKD infra bond being the longest tenor of a HKD-denominated government bond; the issuances are set to extend the HKD benchmark yield curve.

The dual listing will help keep momentum in Hong Kong's equity markets, with the majority of the $4.5bn proceeds raised by the Shenzhen based global EV player set to help build a factory in Hungary; a greenshoe option takes the raising to $5.2bn.

The Hong Kong-headquartered Asian life insurer, backed by billionaire Richard Li, has made several similar filings in recent years without triggering an IPO.

Mehra has started the Hong Kong-based newly created role on May 12, joining from Goldman Sachs.

Chan will join from Goldman Sachs as head of markets solutions for financial institutions for Asia South and Asia North in July.

Starting May 6 in Hong Kong, Casati will help build additional banking capabilities including advisory, financing and risk management.

The US-China trade war, sparked by US president Donald Trump's tariffs, looks like it is just beginning, with global markets set to be on a roller coaster for weeks; China has now retaliated further.

Global stock markets are tumbling as US president Donald Trump unveils sweeping global tariffs, with many Asian economies hit hard; many fear the move could spark a global trade war as China's retaliation to hit US chip imports, and US recession fears climb.

Global investors, with the majority in Asia, participated in the deal which included five year, 10 year and 30 year senior bonds, and is the largest US dollar bond issuance in Hong Kong in the Reg S format; the funds will help drive infrastructure development.