Morgan Stanley

Geopolitical tensions around North Korea did not close the primary debt market this week, as Hyundai Motor Group’s US arm snapped up $1bn from a triple-tranche deal and Kookmin Bank priced a $500m trade on Monday.

Singapore power company SP PowerAssets began marketing a rare dollar transaction on Tuesday morning, nearly two years after it last hit the offshore debt market.

InterGlobe Aviation has raised Rp37.96bn ($591.5m) from a one-day placement, drawing in a troop of international and domestic hedge funds, as well as long-only investors.

Credit Suisse has replaced Marisa Drew and Mark Echlin as co-heads of EMEA investment banking and capital markets with Mathew Cestar and Jens Welter. The bank also announced a senior hire in leveraged finance.

Femsa, the Mexican soft drinks and retail company, surprised some in the equity capital markets on Monday night when it sold €2.5bn of the stake in Heineken that it acquired when the Dutch brewer bough its brewery division in 2010.

September has seen a variety of issuers access the corporate bond market. From regular issuers to those who have not issued for over a decade, the consistent theme has been single digit new issue premiums for what one syndicate manager described as “manageable deal sizes.” Monday saw new issues in a similar vein.

ZhongAn Online P&C Insurance Co has opened books for its much-anticipated Hong Kong IPO, which could raise up to HK$11.9bn ($1.5bn).

South Korean dollar bonds are hitting the market unabated despite a new missile launch from North Korea last Friday, with Hyundai Capital America and Kookmin Bank marketing new paper.

Pirelli, the Italian tyre maker, has revealed the price range for its IPO in Milan, which could surpass the €3bn flotation of Allied Irish Banks in June as the biggest IPO in Europe this year - if the deal is priced near the top of the range and the greenshoe is exercised.

MUFG (Mitsubishi UFJ Financial Group) has hired a senior banker from BNP Paribas to front its EMEA insurance team.

Red Star Macalline Group Corp priced a tight $300m debut deal on the back of a book nearly seven times subscribed, after investors chased its notes because of the diversity benefits.

InterGlobe Aviation plans to raise Rp39.5bn ($616m) from a one-day bookbuild on Friday with institutional investors to help it meet India’s free float requirements.