Morgan Stanley

Tesco, the UK supermarket chain, and US medical equipment firm Stryker sailed through the European bond market on Monday. Both issuers benefitted strongly from having picked the right moment to launch.

Ant Financial, an affiliate of Chinese e-commerce giant Alibaba Group Holding, has launched a $3.5bn three year loan into syndication, after closing an amendment and extension of an old borrowing.

High grade corporate borrowers have crammed into what syndicate bankers have labelled the last clear issuance window of the year, with Stryker Corp, Tesco and Arkema out with euro trades.

Deutsche Bank exploited strong investor demand for high-grade paper when it came to the market on Thursday with its inaugural senior dollar trade in a callable format.

HSBC and MUFG have executed the first ever AUS/USD cross currency basis swap using SwapAgent, LCH’s non-cleared derivatives service.

Alibaba Group Holding pulled off the year’s largest IPO this week, raising HK$88bn ($11.2bn) from its Hong Kong secondary listing. The company has given the stock exchange a much needed boost in morale, while signalling to other foreign-listed Chinese companies that they can come home. Jonathan Breen reports.

Lagos-headquartered multilateral finance institution Africa Finance Corporation (AFC) signed a $140m-equivalent syndicated Kimchi term loan facility with Shinhan Bank — its first Korean-focused tool, as the bank diversifies its funding sources.

Czech consumer finance company Home Credit has shelved its potential Hong Kong IPO citing poor market conditions. The deal had been slated to raise up to $1bn.

China Overseas Land & Investment (Coli) found a conducive market window for its last bond issuance of the year, raising $294m from a 10 year deal on Wednesday.

Immobiliare Grande Distribuzione, a crossover-rated Italian property company, brought a sub-benchmark five year bond on Wednesday and shaved 25bp off the spread during execution.

Hong Kong’s PCGI Intermediate Holdings, a subsidiary of FWD, raised $250m from the bond market on Tuesday. While the company hit its size target, orders were limited and the price guidance was unchanged throughout the day.

Caixa Geral de Depósitos was seven times subscribed for its debut non-preferred senior bond this week, when it become the first Portuguese bank to launch a deal in the format.