Morgan Stanley
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Two A-rated corporates went head to head in the euro corporate bond market on Monday as UK pharmaceutical giant GlaxoSmithKline and US electrical systems manufacturer United Technologies Corp both launched triple-tranche deals, with two matching maturities, which totalled €4.5bn. -
IndoStar Capital Finance has scooped up Rp18.4bn ($273m) after pricing its IPO at the top of guidance, on the back of a strong turnout from a broad range of investors.
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Prime Ventures has sold another €111m chunk of its stake in Takeaway.com, the Dutch online food ordering service, after the lock-up from its last block trade in March was waived several days early.
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China Minmetals Corp subsidiary Minmetals Land scared off many investors on Thursday by opting for a perpetual bond. But the unrated issuer still managed to put together a $200m trade, thanks to its parent company’s government ownership.
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GlaxoSmithKline added to the crush of red hot dollar bond supply this week, as borrowers began a spring stampede to lock in funding ahead of a likely rate rise next month.
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Rating: Baa2/BBB/BBB (Moody’s, S&P, Fitch)
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On Wednesday, US car manufacturer Ford’s finance arm followed its recent trend in using the euro corporate market to fund itself in floating rate note format. It kept its tenors short with a pair of FRNs, but found investors had a preference for the shorter option.
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On Wednesday, US car manufacturer Ford’s finance arm followed its recent trend in using the euro corporate market to fund itself in floating rate note format. The company kept its tenors short with a pair of FRNs, but found investors had a preference the shorter option.
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Goldman Sachs-backed ReNew Power is seeking the greenlight for its IPO, having filed a draft red herring prospectus with the Securities and Exchange Board of India on Tuesday.
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Carlyle raked in Rp10.2bn ($151.5m) from an overnight sale of some of its shares in Indian mortgage lender PNB Housing Finance on Tuesday.
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The board of Shire, the pharmaceuticals company, has given the thumbs-up to a £46bn takeover offer by Japanese rival Takeda, with $30.85bn of loans already lined up for the purchase.
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IndInfravit Trust lifted the gloom in India’s infrastructure investment trust market this week after its Rp32.3bn ($484m) private placement, a first for the asset class, drew in Allianz Capital Partners and Canada Pension Plan Investment Board.
