Morgan Stanley
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Hong Kong conglomerate raised $750m from twin deals on a busy day for deal flow -
Issuers see plenty of demand but defining fair value becoming difficult
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Issuer is latest eurozone sovereign to garner less investor interest than for its recent deals
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Spreads for SSA dollar issuers leapt wider after EAA’s pulled trade last week
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US conditions were brighter after Memorial Day holiday
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Issuer cannot tighten spread during execution but prints double its minimum requirement
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Smooth ride for sovereign, but trade hints at wider investor unease about long end bonds
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Latest UAE privatisation could value the chemicals company at $20bn
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Senior and sub deals get done, though some issuers have to pay up
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Adnoc and Borealis plan to float 10% of the chemicals company in the UAE’s latest privatisation
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Swiss company suspending major deal sends devastating signal to IPO market
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Indian logistics firm finds underwhelming interest from local investors
