Morgan Stanley
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The Saudi food chain operator is pricing its IPO at the top of the range -
German borrower pays about 100bp more than same rated issuers in different sectors
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Some onlooking bankers had expected a larger trade
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German issuer joined by Iberdrola, Traton and Vonovia in €4.6bn day
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The £1.25bn bond also offered a rare chance to buy long dated senior bank paper in the currency
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The first Saudi-Abu Dhabi dual listing sets its price range while Riyadh Cables starts trading on the Tadawul
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Sovereign to balance diversification with domestic programme
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US inflation figure helpful to issuers in both markets
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Sterling primary supply also continued with EIB
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Issuer plans euro and dollar bond issue before spin-off from General Electric
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Both issuers managed to tighten from guidance by 3bp-4bp
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The sovereign brushed off recent turbulence to summon over £47bn of orders for its £6bn syndication
