Morgan Stanley

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.

Adyen, the Dutch payments company, has unveiled plans for a €1bn IPO on Euronext Amsterdam amid "genuine hype" among investors eager to play a fast growing, highly cash generative tech unicorn, according to a banker involved in the IPO

The Export-Import Bank of Korea focused solely on floating rate notes for its $1.5bn dual-tranche bond outing on Wednesday, getting away with tight pricing thanks to robust buy-side demand.

A spate of new IPOs might finally give investors something to shout about after a lacklustre, if busy, second quarter of the year. They are hopeful of the chance to be able to buy into growth companies having become increasingly unimpressed by the number of private equity sell-downs sent their way, write Aidan Gregory and Sam Kerr.

GlobalCapital announced the winners of its Bond Awards 2018 on Wednesday night at our 11th annual Bond Awards dinner, at the Jumeirah Carlton Tower in London. Some 280 people were there to see the brightest and best performers in the international bond markets in the past year crowned.

South Africa’s Aspen Pharmacare has signed syndicated loans totalling around €3.4bn-equivalent, in a deal that saw the sort of chunky oversubscription that lenders say will be commonplace throughout the year, because of lack of supply.

UK property development company British Land has amended and extended its £735m unsecured revolving credit facility, reducing the size of its bank debt while pushing the maturity towards a quiet year on the company’s debt repayment schedule.

China Great Wall Asset Management Corp snapped up $600m from a five year bond on Thursday, a modest size compared to its last offshore outing.

Rating: Aa1/AA+

Big moves in US Treasury yields, swap spreads and the euro/dollar and euro/sterling basis swaps put paid to some dollar issuance this week as some borrowers held back and others tapped different currencies. But a pair of Swedish names did get deals done, and rates started to move back into more favourable areas, suggesting volumes could pick up again next week.