Morgan Stanley
-
Italian banks are taking advantage of excellent new issuance conditions, as investors re-establish their confidence in the country's new government. On Tuesday it was Banca Monte dei Paschi’s turn to do so with a euro-denominated preferred senior bond, one day after UniCredit and Intesa Sanpaolo. -
Strong demand for Bangkok Bank’s dollar-denominated Basel III-compliant tier two transaction allowed Thailand’s largest lender to sell a bigger deal at a tighter price than expected, writes Addison Gong.
-
Most investment grade corporate bonds issued over the past weeks have had intermediate to longer tenors, but on Monday issuance tilted towards the shorter end, as GlaxoSmithKline printed two negative yielding tranches.
-
KfW and Bpifrance were the first public sector borrowers out of the blocks in euros following last Thursday’s European Central Bank meeting in which it unleashed its new comprehensive stimulus package.
-
Ghana Cocoa Board (Cocobod) has closed its annual refinancing, securing a $1.3bn facility from a range of international lenders. The facility, Cocobod's second international borrowing this year, has tighter margins than last year's round, illustrating a healthy appetite for one of Africa's most frequent borrowers.
-
Kaspi.kz, the Kazakh payments group, is preparing to list global depositary receipts (GDRs) on the London Stock Exchange this autumn, as EM deals provide a brief glimmer of hope for the UK capital as Brexit volatility has killed the hopes of many UK issuers.
-
Indonesian state-owned power company PLN has diversified its funding sources. It debuted in the Samurai market, raising ¥23.2bn ($215m) from three bonds while paying a small premium over its outstanding dollar curve.
-
-
The breakneck speed of dollar corporate bond issuance continued this week, with lower rated investment grade borrowers dominating investors' attention as they came to the market to lock in attractive financing rates amid fears the credit rally may run out of steam.
-
Evidence is mounting that Enel’s $1.5bn sustainability-linked bond, issued last Thursday, introduced not just a new product, but a new market. In recent days the deal has generated intense interest, and Enel has committed to using the product extensively in future, writes Jon Hay.
-
KfW and the Asian Development Bank won huge praise from SSA bankers with rare 10 year dollar trades this week. The former issued the largest ever dollar green from a public sector borrower.
-
Several participants familiar with the London Stock Exchange Group's (LSEG) bid to buy Refinitiv are unimpressed by Hong Kong Exchanges and Clearing's (HKEX) £31.6bn bid for the LSEG itself and believe it unlikely to tempt shareholders. Silas Brown and Karoliina Liimatainen report.
