Morgan Stanley

The IPO of Adyen, the Dutch payments company, which is one of the most anticipated listings in Europe this year, has got off to a good start, with the book covered throughout the range just over an hour after being opened.

Jerome Leleu, co-head of equity capital markets for Asia Pacific at Morgan Stanley, has passed away at age 41.

The UK government has resumed the reprivatisation of RBS, the British bank that was nationalised during the financial crisis, having launched a £2.6bn block trade.

Morgan Stanley’s private equity arm is selling shares in South Korea’s Hyundai Rotem for the third time this year, aiming to raise W220bn ($200m) with the latest deal.

The political upheaval in Italy is already making US investors go cold on European risk, which could magnify the market disruption Europe is likely to face in the coming months. The effects are even changing expectations on US monetary policy.

A topsy-turvy market backdrop is pushing a slew of Chinese borrowers, mainly property companies, to raise funds by tapping their existing dollar bonds. Buy side interest remains, but only for the right names, writes Addison Gong.

General Motors’ Shanghai-based joint venture is gearing up for its biggest securitization transaction in China. The Rmb10.4bn ($1.62bn) notes will be up for grabs not only for onshore investors, but also those tapping the market via Bond Connect.

Chinese used car e-commerce platform Uxin began investor education for a potential $500m Nasdaq IPO on Wednesday, said a banker on the deal.

Property developers Times China Holdings, Central China Real Estate and China South City Holdings raised funds from the dollar bond market on Monday, with all three finding sufficient buy-side interest.

Ethan Farbman, Morgan Stanley’s co-head of Asia Pacific fixed income capital markets, will be leaving in the summer, triggering a number of changes at the bank, according to sources.

China Energy Reserve & Chemicals Group Co (CERCG) said on Sunday evening that it has officially defaulted on its dollar bonds, marking the third offshore default from Greater China in recent weeks. Markets participants are not stressing about it though, but are instead optimistic about a strong week for primary and secondary markets.

Vodafone was welcomed with open arms in the US as it printed the biggest dollar bond in its history, executing a quick fire acquisition financing.