Morgan Stanley
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Misys has tinkered with the $5.35bn-equivalent loan package backing its acquisition of Canadian competitor D+H, with a banker on the deal saying the basis swap between dollars and euros was especially attractive to the issuer. -
South Korean low-cost carrier Jin Air is looking to raise at least $200m from an IPO in 2017, according to a source close to the deal.
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State Grid Corporation of China on Wednesday snapped up $5bn from a four-trancher — the largest G3 bond so far this year. In addition to size, the issuer also achieved tight pricing, said market participants.
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Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.
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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.
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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.
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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.
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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.
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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.
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State Grid Corporation of China opened books for a four tranche dollar bond on Wednesday morning, comprising three, five, 10 and 30 year portions.
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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”.
