Morgan Stanley

Credit Suisse named a new top team for its EMEA FIG investment banking group, with a Morgan Stanley banker joining the business as co-head.

The IPO of Pirelli, the Italian tyre company, has been priced at €6.50, the bottom of the revised range, valuing the business at €6.5bn.

Dollar borrowers failed to take advantage of pent-up demand and tightening spreads as US corporate bond supply recorded a lacklustre end to the month.

Singapore-based Sea began pre-marketing a potential $1bn US IPO this week, according to a banker close to the deal.

Bawag, the Austrian banking group that has been owned by Cerberus since 2007, will attempt to go public in Vienna this autumn, with an IPO that will provide a serious test of the strength of investor demand for the European banking sector.

US investors led the charge to CK Hutchison Holdings’ triple-tranche bond on Tuesday, with their strong, and unexpected, support pushing the final deal size beyond the issuer’s expectations.

With strong demand right off the bat, Chinese firm RYB Education has broken through the top of guidance to raise a higher $144.3m from its US flotation, according to a source close to the deal.

Tuesday proved to be hybrid day in the European corporate bond markets with Aroundtown tapping its dollar hybrid bond for €200m while German electric utility, RWE, announced it was tendering for up to €550m equivalent of its own equity-like debt.

CK Hutchison Holdings is wooing dollar debt investors for the third time this year, opening books for a triple-tranche deal on Tuesday morning.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

In an unusual debut in the Panda bond market, television manufacturer Skyworth approached investors with an equity-backed note. The effort grabbed attention and helped Skyworth bag Rmb2bn ($303.6m) – the maximum it could raise – from a five year non put three on the Shenzhen Stock Exchange on September 19.

Postal Savings Bank of China Co’s $7.25bn Basel III additional tier one bond from Thursday was one for the books, breaking numerous records with its size and price, while navigating around a downgrade of the sovereign.