Morgan Stanley
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State Bank of India sold its debut green dollar bond through its London branch on Wednesday, reopening the market for the country’s issuers. But despite being a strong credit, the bank didn’t have an easy time marketing its notes against a volatile backdrop, as sceptical investors demanded a premium for emerging market risk. Morgan Davis reports. -
Two Samsung-linked units are selling down their remaining shares in Samsung C&T Corp through an accelerated block that could raise as much as $829m.
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WuXi AppTec has filed for a possible $1.9bn dual listing in Hong Kong after making a splash with its Shanghai IPO in May.
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Cyprus won huge demand for its return to the 10 year part of euro curve on Tuesday, with the final book almost four times covered. The deal should set a good backdrop for Greece to come to the market in the same maturity — as long as it pays up a sizeable concession, according to SSA bankers.
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The strong demand that has permeated the dollar market over the last few weeks showed no signs of abating on Tuesday, as a pair of borrowers issued benchmarks that were comfortably oversubscribed.
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The Philippines’ Security Bank Corp offered a decent premium over its domestic peer to woo investors to its $300m bond offering on Monday.
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Knorr-Bremse, the historic German manufacturer of brake systems for trucks and trains, has started one of the largest German IPOs of the year, having filed an intention to float document on Monday morning.
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Cyprus picked banks on Monday for its first euro benchmark in the 10 year maturity since 2015, following S&P's return of the sovereign to investment grade status.
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Dexia Crédit Local and CPPIB Capital released initial price thoughts on Monday for their new five year dollar benchmarks amid what bankers called a "good backdrop" for the maturity. Both deals are due to be priced on Tuesday.
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