Morgan Stanley

Three shareholders in French electronics firm Soitec pocketed €124m from an overnight equity block trade on Tuesday, which came on the heels of a 100% rally in the stock since the start of the year.

On Wednesday, Heathrow returned to the euro bond market for the first time for over two years. The UK airport company printed a €500m 15 year deal, following the lead of Daimler and Gecina earlier in the week.

So far this week, euro corporate bond investors have had to choose between three tranches from an individual issuer. On Wednesday, they had a choice of three issuers, with different ratings and offering different tenors.

The UK’s eighth largest restaurant chain, Wagamama, sold £225m of new bonds on Wednesday, as it plans to call its debut bond and make savings in a sterling market awash with demand.

The Dutch government sold its second block of shares in ABN Amro on Tuesday night at a higher price and a tighter discount than its first, in an extremely well-received €1.5bn transaction.

Strong support from IG accounts had enabled Polish utility company Tauron Polska Energia to tighten guidance to 165bp, plus or minus 2bp, for its windy but not green 10 year note on Tuesday morning.

Hong Kong conglomerate Swire Pacific closed a $300m seven year bond on Tuesday, opting for a tight price over size with the debt-raising.

Though some bankers have detected a cooling of investors’ thirst for European IPOs in recent weeks, the right names are still flying off the shelves. Delivery Hero, the online food ordering service, is guiding investors in its €866m deal to the top of the price range, and shares in restaurant chain Vapiano rose on their debut.

Asian issuers flooded into the debt market on Tuesday, as seven credits battled for attention amid a somewhat positive tone in the market. Greenland Hong Kong Holdings grabbed $200m, while China Gold International Resources Corp nailed a $500m three year and Shimao Property Holdings sealed a tap.

The European leveraged finance market was disappointed this week when Bain Capital’s and Cinven’s €5.3bn bid for German generic drug firm Stada fell apart.

On Tuesday, Gecina, the French property company, latched onto the latest trend for issuance in the multi-tranche European corporate bond. The triple tranche €1.5bn deal will be used to refinance part of the bridge facility used by Gecina to acquire Eurosic.

NetLink Trust has kicked off bookbuilding for its up to S$2.7bn ($1.9bn) IPO, set to be Singapore’s largest listing in half a decade, according to a source close to the trade.