Morgan Stanley

The euro market is taking a breather as a frenetic January draws to a close. But one borrower hit screens and launched a deal on Wednesday, while the European Financial Stability Facility (EFSF) sent out a request for proposals for next week.

Italian toll road operator Società Iniziative Autostradali e Servizi (SIAS) followed a four day investor roadshow with its third 10 year bond this week. A €1.9bn order book allowed the company to print its largest ever deal at a much tighter spread than its previous two offerings.

Equity investors have entered the New Year hungry for assets. Demand on deals has well exceeded initial volumes, leading to issuers increasing sale sizes.

Following an investor call on Monday, Dutch energy distributor Alliander received overwhelming support on Tuesday for a new €500m hybrid bond issued alongside a tender offer for its existing €500m 3.25% hybrid. The final order book was more than €3.5bn.

Alstria, the German REIT, sold 15.3m new shares through an accelerated bookbuild, after the close of trading on Monday night, to finance the acquisition of two new properties in Hamburg and Stuttgart and the settlement of a convertible bond.

Dutch energy distributor Alliander announced plans for a new euro hybrid on Monday, alongside a tender offer for the company’s outstanding hybrid. The issuer’s ratings could allow it to set a new low for the product's pricing.

Bangkok Bank has sold a chunk of its stock in Jasmine Broadband Internet Infrastructure Fund, raising Bt4.4bn ($140.7m) after boosting the size of the trade.

Cifi Holdings raised HK$2.79bn ($356.7m) in short-term financing with the sale of a sub-one year convertible bond, priced at the tight end of guidance on Thursday evening.

Export-Import Bank of India took home $1bn in a carefully crafted single-tranche deal on Thursday that reeled in US investors.

Bilibili, a popular Chinese video-streaming website for Japanese animation, is eyeing a $400m IPO in New York later this year.

Prisa, the Spanish media conglomerate that owns El País, has launched its fully underwritten €563m rights issue after it was approved by CNMV, the Spanish market regulator, on Thursday.

Iccrea Banca, the central institution of Italian credit unions and savings banks, opened books on a short dated floating rate deal on Thursday, shortly after having had its credit ratings cut to speculative grade by Fitch.