Morgan Stanley
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Heavy bond supply last week from Chinese property developers took a toll on Fantasia Holdings Group Co, which failed to tighten pricing on a $200m bond on Monday. But China Hongqiao Group, an aluminium maker, found solid response from investors due to a lack of issuance from industrial credits. -
Morgan Stanley has become the latest firm to establish itself as a clearing broker at CDSClear, the Paris-based clearing house of LCH.
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Greece picked banks on Monday for its third syndicated bond of the year as the sovereign looks to take advantage of a sharp rally in its yields to fund an early repayment of loans to the International Monetary Fund.
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Emerging market consumer finance company Home Credit filed its draft prospectus in Hong Kong on Monday, setting its $1bn-plus IPO in motion, according to a source with direct knowledge of the matter.
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China’s Wanda Sports Group began a week-long bookbuild on Monday morning, with a plan to raise as much as $500m on the Nasdaq.
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Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.
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A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.
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Budweiser Brewing Apac has delayed pricing its jumbo float on the Hong Kong Stock Exchange, according to a source at the company.
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BMW returned to the Panda bond market on Wednesday, raising Rmb3.5bn ($509m) from a privately-placed deal. The shortest tranche got plenty of demand from local investors, helped by flush short-term liquidity.
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Budweiser Brewing Co Apac was set to price its multi-billion-dollar Hong Kong IPO at the bottom of guidance on Thursday, according to a banker on the deal.
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After raising Rmb5.5bn ($799m) from its largest auto loan ABS deal in March, BMW’s Chinese auto finance arm is returning for more. The planned Rmb8bn deal will hit the market on July 16.
