Morgan Stanley

Credit Suisse shares closed 2.7% higher on Wednesday after the bank confirmed what had been widely expected: it will conduct its second rights issue in 18 months, and scrap its plan to float its Swiss Universal Bank.

India’s NTPC sealed a Rp20bn ($311m) five year Masala bond on Tuesday, as the country continues its struggle to develop the offshore rupee market.

Peer-to-peer lender China Rapid Finance is eyeing the bottom half of guidance for its US IPO, giving it a possible size of up to $105m, according to a banker working on the deal.

State Grid Corporation of China opened books for a four tranche dollar bond on Wednesday morning, comprising three, five, 10 and 30 year portions.

The European Financial Stability Facility on Tuesday priced a dual tranche deal that bankers are describing as possibly its greatest ever, laying to rest some of its other long dated trades this year that drew criticism. A pair of other issuers have also hit screens in a euro market enjoying what one syndicate head called “probably the best conditions we’ve seen in months”.

Tullow Oil, the Anglo-Irish oil and gas drilling company, finished its £625m rights issue with a small rump placement on Tuesday morning.

India’s NTPC opened books for a new offshore rupee offering on Tuesday, the second Masala transaction to hit the market this year.

Morgan Stanley was able to complete a huge €3.5bn offering of senior notes on Monday, adding to a recent €22.5bn debt binge from US banks following first quarter results.

An outpouring of interest from first tier global funds helped shareholders of ING Life Insurance Korea raise W1.1tr ($975m) from its IPO, though pricing came near the bottom of guidance.

Indonesia-listed Sarana Menara Nusantara is set for a liquidity event after a group of shareholders put a large chunk of stock for sale to raise Rph5.6tr ($422m).

Strong volumes at the start of the year and an easy comparison quarter have meant the US banks have posted stonking sets of investment banking numbers in their first quarter reporting. Goldman’s trading numbers may have disappointed, but broader business is booming on Wall Street.

The Eastern and Southern African Trade and Development Bank (PTA Bank) made a rapid return to the US dollar market on Thursday with a tap of its March 2022s.