Morgan Stanley
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Cango, a Chinese online marketplace for vehicle sales, has started bookbuilding for its $150m IPO on the New York Stock Exchange. -
French telecoms firm Altice called on the high yield bond and leveraged loan markets with a €4bn cross-border refinancing deal this week, hoping that improved quarterly results would help investors shake off the apprehension they showed for the credit in March.
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Morgan Stanley has promoted two of its most senior investment bankers as it continues to rotate its senior talent, part of its succession plan under chief executive James Gorman.
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The euro high yield bond pipeline brought five deals to the market this week, as secondary yield spreads and payoff expectations tightened, partially reversing recent trends.
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Indian apparel maker TCNS Clothing is seeking up to Rp11.24bn ($163.9m) from a float of only secondary shares.
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The UK Debt Management Office breezed through another syndication on Wednesday, although bankers said that the darkening cloud of global trade wars likely led some investors to seek shelter in the safe-haven asset.
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German property company Aroundtown raised funding in a fifth different currency of 2018 on Wednesday, when it saw an opportunity to issue corporate bonds more cheaply in sterling than in euros.
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The Securities and Exchange Board of India has waved through Lodha Developers’ IPO, barely two weeks after putting the transaction on hold.
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Smartphone maker Xiaomi Corp’s debut in Hong Kong fizzled out as its shares tumbled 6% at the open, even as Chinese stocks shrugged off a looming trade war.
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A German sub-sovereign astonished the SSA market this week, selling a 50 year benchmark to show that, despite the expectations of rising rates in euros, some investors at least are still happy to put money into assets at the ultra-long end. Lewis McLellan reports.
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UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.
