Morgan Stanley
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Shanghai Pharmaceuticals Holding Co raised HK$3.1bn ($396.6m) through an H-share placement on Thursday, its biggest follow-on offering yet. -
Following a fourth quarter in 2016 that saw frenzied trading on the back of Donald Trump’s election as president, a rally in US stocks and a steepening yield curve, the biggest US banks saw trading revenues slide at the end of last year.
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All of the US banks that reported results this week booked losses related to troubled South African retailer Steinhoff, other than Morgan Stanley — despite the close relationship between the bank and the firm, which saw it handed a plumb gloco role on the IPO of its African retail arm in September.
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The closest things to European corporate bond issues in euros on Thursday were a €200m sole-led issue for Deutsche Telekom, reported by Dealogic, and a €500m floater for LeasePlan, the Dutch car leasing bank.
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Chinese biopharmaceutical company BeiGene wrapped up a follow-on offering of its Nasdaq-listed American Depository Shares on Wednesday, raising a larger than expected $750m, according to a company statement.
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Luxury auto dealership China ZhengTong Auto Services has wrapped up its latest borrowing at $380m.
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Chinese biopharmaceutical company BeiGene is looking to raise about $650m from a follow-on offering of American Depository Shares (ADSs), according to a filing with the US regulator.
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Mitsubishi UFJ Financial Group (MUFG) has become the first Japanese issuer to tap the Panda bond market, crossing the finishing line on the same day as Mizuho Bank. The issuer focused on attracting local investors in its debut deal, raising Rmb1bn ($154m) from the onshore market.
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Mizuho Bank opened the Japanese Panda bond market on January 12, sharing the title of first issuer in the category with Mitsubishi UFJ Financial Group (MUFG). But instead of aiming for a blockbuster transaction, Mizuho treaded carefully – raising just Rmb500m ($77m) from the debut deal.
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MUFG has appointed Holly Villiers to a new role heading corporate banking for UK, Ireland and the Nordic countries.
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Chinese issuers Peking University Founder Group, Bank of Communications Financial Leasing Co, Geely Automobile Holdings and Jinjiang International Holding are meeting investors this week ahead of planned dollar and euro bond sales.
