Morgan Stanley
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The European Financial Stability Facility attracted a heavily oversubscribed book for a deal on Tuesday and was able to tighten its pricing considerably, but onlooking bankers did not seem taken by the supranational’s strategy. -
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South Africa’s Aspen Pharmaceuticals has mandated banks to arrange a refinancing exercise, according to two bankers away from the top line, but African loan bankers face a meagre pipeline of business following lower first quarter volumes than in the same period last year.
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Avast, the Czech cyber security company, has set the terms of its London IPO, valuing it at £3.2bn at the top of the range.
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Springer Nature, the German academic publishing group, has opened the books on its €1.3bn Frankfurt IPO with a price range that gives a “healthy discount” to peers.
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The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.
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Techcombank priced Vietnam’s largest ever IPO this week at the top of guidance, raising D21tr ($922m).
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Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before.
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Metallurgical Corporation of China (MCC) was one of a number of Chinese state-owned enterprises to sell bonds in the international market this week, bagging $500m from the first senior perpetual deal in the region in more than a month.
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Three MBA students from Singapore Management University have won Morgan Stanley’s annual Sustainable Investing Challenge with a scheme that addresses one of the areas of sustainable financing that is least advanced: adaptation to climate change.
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State Grid Corporation of China priced a $2.8bn-equivalent four-tranche deal on Tuesday, managing to navigate the impact of the benchmark 10 year US Treasury yields finally breaching 3% after days of sell-off.
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The European Financial Stability Facility wrapped up its second quarter funding on Tuesday with a larger than planned tap of its May 2047 bonds.
