Morgan Stanley

China Rapid Finance decided to cut price guidance for its US IPO in order to secure a high quality anchor investor, raising $70m instead of the original target of up to $115m, according to a banker on the deal.

Elation in the euro markets after the first round of the French presidential election at the weekend continues to wash over the public sector bond markets, with the Province of Quebec selling its largest ever benchmark in the currency and Spain printing €5bn of inflation-linked paper.

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).