Morgan Stanley
-
French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand. -
The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.
-
Chinese property developers are rushing to sell dollar bonds as momentum picks up and the market stabilises. While heavy supply is weighing on investors’ minds, their familiarity with the sector and issuers’ willingness to pay up may be able to safeguard the deals.
-
Yuexiu Property Company priced a two-tranche dollar bond on Thursday but decided to ditch a potential offshore renminbi deal. Separately, Peking University Founder Group Co returned with another bond with a keepwell structure for $425m.
-
-
-
European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.
-
Portugal printed its first new long dated benchmark since September 2014, drawing the week’s largest order book in the public sector bond market for its 15 year deal.
-
UniCredit sold its remaining stake in Italian wind operator ERG for €118m to an eager investor base after markets closed on Tuesday evening.
-
The Kingdom of Saudi Arabia printed its $11bn bond on Tuesday, which several bankers and investors thought had been timed to maximise disruption of Qatar’s return to market, which is also expected this week. But leads said the modest size taken by Saudi from a $50bn book showed that there was no intention of throwing the capital markets into disarray.
-
China SCE Property Holdings and Powerlong Real Estate Holdings paid up to complete their dollar bonds on Tuesday, but the new issue premiums were widely expected by bankers.
-
Chinese conglomerate Sinochem Group has hired a seven-strong syndicate team to run the Hong Kong IPO of its oil assets, according to a banker on the mandate.
