Morgan Stanley
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Five new high yield offerings, including the biggest floating rate note seen in Europe so far this year, entered the market this week. The FRN is a sign that frontiers are becoming blurred between different leveraged finance markets for debt buyers, said bankers.
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Oceanwide Holdings International and Metallurgical Corporation of China (MCC) snagged investors on Monday for their new bonds, with the former going for a 363-day deal despite having regulatory quota for a longer transaction, while the latter capitalised on strong demand for its recent trade to bag $500m from a tap.
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Tuesday is yet another busy day for China DCM, with Bright Food (Group) Co, Greentown China Holdings and Central China Real Estate in the market for bonds, while China Railway Group is set to meet accounts for its return to the international debt market.
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NetLink Trust has priced Singapore’s largest listing in five years, raising S$2.3bn ($1.7bn) from a well covered book after global yield-focused investors piled in.
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A special purpose vehicle under India’s Greenko Energy Holdings is ready to market a dollar green bond, while Hong Kong’s Castle Peak Power Company is looking to sell what it is calling an energy transition bond.
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Chinese iron and steel company Metallurgical Corporation of China (MCC) is looking to add to its dollar bond sold just over a month ago, opening a tap on Monday following investor meetings in Hong Kong, Singapore and London.
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Carmila, the retail property owner and manager owned by Carrefour, has bagged €503m in a capital increase, after acquiring a listing earlier in June by merging with Cardety, a smaller French property company.
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Longfor Properties Co's debut in the investment grade debt market tested the leads’ abilities to find appropriate pricing for the deal. But the result was a thumbs-up in primary and secondary, as investors flocked to the $450m bond.
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Two firms from China’s new economy sector, which are backed by technology companies Alibaba and Tencent, plan to tap equity investors for over $2bn in their Hong Kong IPOs.
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Chinese developer Longfor Properties Co began marketing its first investment grade dollar bond on Thursday morning in Asia.
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Pasubio, the Italian maker of speciality car upholstery, is funding its buyout by CVC with a leveraged loan and revolver launched on Wednesday in an issuer-friendly market.
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Hindustan Petroleum Corp (HPCL) opened books for its debut dollar transaction on Wednesday morning, and is looking for a 10 year bullet.