JP Morgan
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Russian nickel and palladium producer Norilsk Nickel has kept momentum from a roadshow last week to hit the market with a five year benchmark dollar trade as two other issuers prepared investors for their own deals this week. -
Health and Happiness International Holdings, Yibin Emerging Industry Investment Group Co and CCB International were among those which priced dollar bonds on Thursday.
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Citic Securities Co returned to the offshore market with a $700m dual-tranche transaction. The deal included a five year bond, a rarity from a Chinese securities house in recent years.
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Morgan Stanley posted fee growth in underwriting and advisory in its third quarter results on Thursday, leaving Goldman Sachs the outlier among the five big US banks in seeing revenues fall in investment banking.
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World Bank came tight with its first 10 year dollar benchmark since 2017 this week, but the demand underwhelmed in comparison to a recent spate of successful similar deals from other top tier public sector borrowers.
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Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music catalogues, has concluded its share sale, which the company announced last month to finance the acquisition of new song rights.
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Kommunalbanken was almost twice covered for its 10 year euro trade on Thursday as it returned for its first benchmark in the currency since 2017.
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A sharp rise in advisory and debt underwriting revenues drove Bank of America’s investment banking in the third quarter, its results showed on Wednesday.
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The World Bank seemed to find the point of investor exhaustion with its 10 year dollar deal on Wednesday following a recent spate of successful similar deals from other borrowers.
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Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week.
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Russian potash producer Uralkali hit the market on Tuesday, tightening pricing on a $500m bond issue, the borrower's first international deal since 2013. DCM bankers are confident Russian issuance will continue to fill the market throughout the fourth quarter, as Norilsk Nickel began a roadshow.
