Morgan Stanley
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Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs. -
A trio of Chinese firms begun pursuing IPOs in the US this week that could raise more than $1bn between them.
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NGA UK, the provider of human resources software, launched a €300m loan on Wednesday, which it will be hoping appeals to CLO managers that have been eager for new money deals.
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After weeks of risk-on behaviour, a cautious mood has gripped Europe’s equity capital markets after several of this season’s biggest IPOs traded badly in the aftermarket.
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China Literature has priced its listing at the top of guidance, raising HK$8.3bn ($1.06bn) after closing the books hundreds of times oversubscribed.
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China Huarong Asset Management Co priced an almost $3.4bn five tranche bond in two currencies on Tuesday, restarting supply from Chinese financial institutions after the sovereign repriced the curve last week.
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Majorcan travel services operator Hotelbeds has announced a repricing of all its loan debt, continuing a wave of margin cutting that investors have little choice but to support.
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Chinese online peer-to-peer lending platform PPDAI Group has launched bookbuilding for an IPO of American Depository Shares.
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China Huarong Asset Management Co started taking bids for a five tranche, dual-currency bond on Tuesday morning. It wants to become the first Chinese financial institution to sell offshore bonds after the sovereign tightened the curve with a landmark deal last week.
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Tencent-backed China Literature has closed books on its red-hot HK$8.3bn ($1.1bn) Hong Kong IPO a day earlier than planned, although there was no firm price guidance from the lead banks.
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Ronshine China Holdings has raised HK$1.2bn ($155.6m) after a selling a chunk of shares through a top-up placement, according to a filing with the Hong Kong Stock Exchange on Monday morning.
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Sogou, the internet search arm of US-listed Sohu.com, has kicked off bookbuilding for a $585m IPO on the New York Stock Exchange.
