Citi

Morgan Stanley’s private equity arm raised W230.4bn ($214.3m) from an overnight sell down in South Korea’s Hyundai Rotem on Wednesday.

Indian conglomerate Larsen & Toubro kicked off the listing of its infrastructure investment trust (InvIt) this week, pushing a novel private placement structure. Market participants predict that with the sponsor’s strong credentials, a desire for safe assets and a bigger investor pool, the deal could be the boost InvIts have been waiting for. Jonathan Breen reports.

David Lim has rejoined Credit Suisse in the newly created position of vice-chairman for private banking, southeast Asia, effective next week.

The Republic of Ghana is heading off on a roadshow for 10 and 30 year bonds, with a tender offer for its existing 2022s and 2023s attached to the transaction.

Indonesia’s Astra Sedaya Finance (ASF) is back in the offshore loan market for a new $150m borrowing, paying 20bp lower than a similar deal raised last year.

IndInfravit Trust will launch a Rp32.3bn ($484.3m) IPO on Thursday, the first time an Indian infrastructure investment trust (InvIT) will sell shares solely through a private placement.

Despite expectations of a slowdown in the pace of issuance in the European high yield market, two borrowers brought €2.9bn of new bonds this week. Both issuers, Spanish construction firm Aldesa and Italian banking payments group Nexi, marketed refinancing deals.

Bahrain’s Oil and Gas Holding Company (Nogaholding), which is 100% state owned, is looking for seven year funding.

Lebanon’s Blombank on Friday issued $300m of debt but the deal was most likely locally placed, according to international investors, who did not get involved because it offered no spread over Lebanon’s sovereign curve.

Ping An Healthcare and Technology priced its HK$8.8bn ($1.1bn) IPO at the top of guidance after a flood of demand from local and international investors.

Indonesian property company Bumi Serpong Damai returned to the debt market on Monday for a quick $50m tap to its $250m 7.25% 2021 bond that was sold last week.

Real estate developer Vinhomes has launched bookbuilding for its D31.8tr ($1.4bn) listing, set to be Vietnam’s largest equity offering to date.