Morgan Stanley
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Red Football, an investment vehicle for the billionaire Glazer family, came to market on Wednesday evening to launch the sale of a 2% stake in Manchester United, the New York-listed English football club that they have owned since 2005. -
Morgan Stanley’s head of SSA syndicate Andrew Salvoni is set to leave the bank, GlobalCapital understands.
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US payments processor Vantiv has signed a $1.6bn term loan with a trio of banks for its £9.3bn merger with UK peer Worldpay.
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BMW Automotive Finance (China) Co has tapped China’s auto loan asset-backed securities (ABS) market for the second time this year. The German carmaker bagged Rmb4bn ($595.4m) on August 8, less than a week after another foreign automaker, Nissan’s China joint venture, hit the market.
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The dollar market got off to a busy start in August with US telecoms heavyweights Verizon and Comcast taking home a combined $5.5bn on the back of strong demand.
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Public sector issuers are taking advantage of strong summer conditions in the dollar market to bring green and arbitrage-style deals, with more issuance expected next week.
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Sunac China Holdings raised $1bn on Wednesday from a dual-tranche bond, despite a lot of market talk about the company this year. Bankers said the deal's success showed investors’ confidence in the company, but analysts argued the issuer left enough on the table to get demand.
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A solitary capital increase from Monday was the stand-out trade of a meagre bunch in equity capital markets this week, with the IPO market on pause until September.
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Hong Kong-listed Sunac China Holdings has set its sights on the debt market for a dual tranche dollar bond, one week after sealing a HK$4.03bn ($516.2m) top-up placement.
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The dollar market is grinding on throughout the summer, with public sector borrowers pushing out deals at the short end, although none have been in benchmark size this week. Two issuers launched transactions on Tuesday with a third slated to follow on Wednesday.
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Turkey’s Coca-Cola İçecek (CCI) is set to offer investors a rare chance to buy Turkish corporate debt, and has announced its intention to raise up to $1bn from the bond markets within the next year.
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Foschini Group, the South African fashion retailer, raised R2.5bn ($190m) of equity capital on Monday night, in an accelerated capital increase that was increased from R2bn.
