Morgan Stanley

Lloyds Banking Group has appointed William Chalmers, a Morgan Stanley FIG banker, as its next chief financial officer.

The US corporate new issuance calendar took a breather on Thursday after clocking up its busiest week of the year with $30bn of supply in just three days. Borrowers remained on the sidelines as investors digested the supply onslaught that brought bulging order books and tight pricing.

Record breaking Italian football club Juventus made its debut in the corporate bond market on Wednesday. It used the Agnelli family’s involvement in the ownership and running of the club for nearly a century to market the bond, but Italian football clubs do not have a great financial track record, writes Nigel Owen.

CStone Pharmaceuticals has launched Hong Kong’s first biotechnology IPO of the year — and bankers are watching it closely. The up to HK$2.38bn ($304m) deal has received a strong early response, a good sign for the growing pipeline of biotech issuers hoping to put a difficult 2018 behind them. Jonathan Breen reports.

After a quiet start to February, property developers from China are making the most out of a liquid bond market, pricing dollar bonds way inside of initial guidance and still watching their bonds trade well in the aftermarket. The rush shows no signs of slowing down. Addison Gong reports.

Sunac China Holdings priced a large three year callable bond, taking advantage of the abundant liquidity in the market following Chinese New Year. But investors appeared to hold back when it came to less familiar names.

Chinese real estate companies Zhenro Properties and China Aoyuan Group reopened the Asian offshore bond market with a bang, as cash rich investors flocked to their transactions.

The Indian government is offloading 50.76m shares in Axis Bank through an offer-for-sale, trimming its stake in the private sector lender as the end of the financial year looms.

Chinese property issuers led the reopening of Asia’s offshore bond market following a week-long holiday in the Mainland to celebrate the Lunar New Year. Investors responded to the new deals with enthusiasm.

Pinduoduo, a Nasdaq-listed Chinese e-commerce company, has raised $1.38bn from a follow-on offering.

Shares of Chalet Hotels, a high-end hotel group in India, initially soared 5% on their debut on the domestic stock exchange on Thursday, before paring some of the gains.

Just six months after listing on the Nasdaq, Chinese start-up Pinduoduo is back in the equity market to raise around $1bn from a follow-on offering.