Morgan Stanley
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SF Holding Co grabbed $500m from its inaugural bond on Thursday, enticing investors with its high rating and scarcity value. -
Management at Goldman Sachs and Morgan Stanley used second quarter earnings calls to reassure investors about their exposure to leveraged loans, under questioning from RBC Capital Markets’ Gerard Cassidy, as fears grow about leverage levels and weak covenants.
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IHS Markit exploited the lull in high-grade supply to grab investor attention with its investment grade debut.
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Concerns from some fund managers about the terms of Altice’s new €2.5bn-equivalent bond were swamped by orders from other investors eager to bag single-B paper with a big coupon from a core high yield issuer. After a series of successful investor push-backs on deal terms, the debt laden French telecom proved this week that borrowers still can walk away with loose covenants, writes Victor Jimenez.
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Wall Street heavyweights returned in force to the dollar market with a string of multi-billion dollar trades after posting strong second quarter earnings.
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The World Bank is keen to bring a euro benchmark this year, having been absent from that segment for nearly two years. The supranational this week made a triumphant return to dollars, setting a 2018 record for the tightest swap spread on a three year dollar benchmark so far.
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Shanghai Fosun Pharmaceutical Group bagged HK$2.6bn ($331m) from an H-share placement on Wednesday, its first capital raise in more than a year.
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Bankers marketing the latest crop of IPOs from China’s technology sector got their game face on this week amid escalating fears of a trade war with the US.
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Ascletis Pharma is in the market with the first biotechnology IPO in Hong Kong following the bourse’s historic change in listing rules.
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Goldman’s new CEO David Solomon has a lot in his in-tray, not least a resurgent Morgan Stanley that has firmly hit its stride, writes David Rothnie.
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World Bank on Wednesday returned following an eight month absence in dollar benchmark funding to print the tightest spread on a three year dollar deal from an SSA this year.
