Morgan Stanley

Innovent Biologics, the fourth issuer to ride the wave of Hong Kong’s biotechnology IPOs, was so popular with institutional investors that allocations caused a headache, said bankers.

With the spat between Italian government and the Europe Commission over the former's budget rocking bond markets, windows of opportunity for new deals have been few and far between. But A-/A3/A- rated German utility company EnBW and AA-/Aa3/AA- rated Procter & Gamble raised bonds on Wednesday, as a flight to safety gave the transactions the required lift.

Summit Partners has launched the first selldown of shares in Avast, the Czech cyber security company, since its £602m IPO on the London Stock Exchange in May.

Distribuidora Internacional de Alimentación, a recently downgraded Spanish discount food retailer that issued a profits warning last week, saw its outstanding bonds fall further in the secondary market despite providing a glimmer of good news.

Arima Real Estate, a newly created Spanish real estate investment trust, has managed to get its IPO over the line, but with a much smaller deal size than originally intended.

Shares in Funding Circle, the UK peer-to-peer lending platform, rose more than 5% on Friday morning after the company posted its first quarterly earnings since its £300m IPO on the London Stock Exchange at the start of October.

The loan market is weighing up the fate of billions of dollars worth of deals after the disappearance and possible murder of Jamal Khashoggi, a prominent Saudi journalist who had criticised the regime. Mariam Meskin and Mike Turner report.

Zur Rose, the Swiss online pharmacy that went public last year, plans to raise Sfr200m via a rights issue to fund its takeover of the e-commerce operations of Medpex, a competitor in Germany.

Debt buyers piled into the first high yield bond deal from UK supermarket chain Tesco, which increased its offering by half and reached investment grade pricing as order books swelled to eight times the initial benchmark size.

Mongolia received a huge vote of confidence from investors on Tuesday, when the Development Bank of Mongolia raised $500m from a bond that received orders exceeding $4bn at its peak. The country’s turnaround story and the issuer’s savvy around execution helped cement the transaction.

Studio City International Holdings priced its debut on the New York Stock Exchange (NYSE) at the top of its marketing range on Thursday, raising $359.4m.

San Miguel Food and Beverage (SMFB) unveiled a sharply scaled-down secondary offering as it turned cautious after the global selloff in equity markets, with its deal now expected to raise just Ps33.1bn ($613.8m).