Morgan Stanley

China-based GreenTree Hospitality Group has kicked off bookbuilding for an up to $349.2m IPO on the New York Stock Exchange, according to a filing with the US market regulator.

Tikehau Capital, the French alternative investment manager, has committed a €250m order for the IPO of DWS Group and has initiated discussions on potential cooperation between the two firms, including on alternative asset management distribution.

GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

Public sector borrowers found buckets of dollar demand on Tuesday, as a French agency sold its largest ever benchmark in the currency and a supranational printed a trade at the upper end of its historical size range. Another supra is lined up to test whether that demand will hold on Wednesday.

B&S Group, the Dutch consumer goods distribution specialist, has opened the books for its listing on the Amsterdam stock exchange, the second Dutch company to set a price range for its IPO this week.

After a reasonable wait, investors are starting to see the more frequent investment grade corporate bond issuers return to the market. On Tuesday, French materials company Saint-Gobain and French telecoms operator Orange sold benchmark deals and UK media company WPP sold a dual-tranche issue.

Elkem, the Norwegian silicon producer and supplier being floated by ChemChina, has had a good start to bookbuilding after launching its Nkr7.7bn (€805m) flotation on the Oslo Børs on Monday.

India’s Tata Sons has raised Rp89.9bn ($1.38bn) after boosting the size of an overnight block sale in Tata Consultancy Services, according to a source close to the deal.

China’s Xinyuan Real Estate Co has sold a par-priced $200m deal, paying one of the highest coupons for a public dollar bond in Asia so far this year.

India’s NTPC sold its first dollar bond in two years on Monday, but the market backdrop forced the usually popular issuer to pay up.

Indonesian coal company Toba Bara Sejahtra culled its debut dollar bond on Monday, as turbulent markets and new domestic rules around caps on coal prices put investors in risk-off mode.

Morgan Stanley issued a €400m bond on Monday, with warrants over Daimler shares, in a trade designed to give equity linked investors some much needed paper in a popular name.