Morgan Stanley

European Central Bank president Mario Draghi may have signed off for the summer by dampening debate around tapering of the ECB’s bond purchasing, but investors are still at their desks with money to spend.

China Jinjiang Environment Holding Company (CJE) made its debut in the international bond market, raising $200m from a three year on Thursday. The deal won investors over — but finding close comparables proved a challenge.

A US pension fund has filed a class action lawsuit against ZTO Express and the banks that underwrote its $1.4bn IPO on the New York Stock Exchange last year.

Kroger and Alimentation Couche-Tard led a flurry of issuance by dollar borrowers to exploit red hot demand for high grade paper. With the bulk of corporate America in earnings blackout, the retailers demonstrated the strength of investor sentiment.

ADO Properties made its debut in the corporate bond market on Thursday, following a roadshow earlier in the week. The €400m seven year deal provided further supply for investors keen to buy higher yielding triple-B rated credits, but the supply line is fading into the summer sun faster than the demand.

BAML and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.

Bank of America Merrill Lynch (BAML) and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.

The Sfr2.3bn IPO of Landis & Gyr, the Swiss maker of energy meters, has been priced above the middle of its initial range at Sfr78, valuing the business at 10 times its 2018 forecast Ebitda.

ADO Properties made its debut in the corporate bond market on Thursday, following a roadshow earlier in the week. The €400m seven year deal provided further supply for investors keen to buy higher yielding triple-B rated credits, but the supply is drying up in the summer heat faster than the demand.

Panda bonds are finally coming back to life after a dire first half. But although all the conditions are in place for an issuance boom, there is reason to doubt quite how high volumes will go.

Waste-to-energy firm China Jinjiang Environment Holding Company (CJE) kicked off its debut dollar offering on Thursday morning.

Ivanhoé Cambridge, the Canadian real estate company that is the largest shareholder in Gecina, has sold 87% of its allocation of rights in the French property group's €1bn rights issue, through a block trade on Tuesday night.