Morgan Stanley
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Chinese corporations bombarded investors with new bond options on Wednesday, allowing three issuers to raise $625m between then. Hong Kong-based asset manager ESR Cayman joined the fray in Singapore, grabbing S$225m ($161.55m). -
Sydney Airport has become the first borrower to issue a sustainability-linked US private placement.
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ING Groep postponed the sale of an additional tier one after clocking up $11bn of demand in the dollar market on Wednesday. At the same time, Arion Bank was looking to launch a $100m deal in the same format — the lowest volume on record in dollars.
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Citic, Yango Group Co and Kunming Industrial Development and Investment Co were the three Chinese issuers that tapped bond investors for new dollar deals on Tuesday.
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Australian healthcare business Genesis Care is borrowing A$1.4bn-equivalent to fund the buyout of 21st Century Oncology’s US business, giving loan investors a rare chance to put money to work at a spread north of 400bp.
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Independent television producer China Bright Culture Group has launched pre-deal investor education for its Hong Kong IPO, according to a source familiar with the matter.
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BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.
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Borrowers hit screens in euros from three to 50 years this week, all enjoying heavily subscribed books and pricing with skinny new issue premiums thanks to investors’ confidence in consistent support from the European Central Bank.
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The syndication of loans to fund Hellman & Friedman’s carve-out of AutoScout24 has seen strong demand, sufficient to support pricing through the tight end of talk on both tranches. The deal has also been recut to squeeze out a larger first lien, cutting the cost of a deal that is among the most levered public issues seen in Europe since the 2007-08 financial crisis.
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Arion Bank showed its eagerness to issue additional tier one (AT1) capital on Thursday as Icelandic banks get ready to benefit from a change in the national tax treatment of the instruments.
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Online gaming and education firm NetDragon Websoft Holdings and biotechnology company Innovent Biologics both tapped the equity market on Wednesday evening for funds.
