Morgan Stanley

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.

Wall Street’s heavyweights peppered the dollar market with big self-led callable deals after reporting a stream of strong first quarter earnings, with one notable exception.

The Eastern and Southern African Trade and Development Bank (PTA Bank) returned to the dollar market on Thursday morning with a reopening of its March 2022s.

China Rapid Finance and Bright Scholar Education Holdings are venturing stateside to raise more than $300m from their IPOs.

Morgan Stanley reported a strong set of first quarter numbers, recording net revenues of $9.7bn, up from $7.7bn in the first quarter of last year.

Chinese school operator Bright Scholar Education Holdings is set to start investor education for its US IPO, which is expected to raise $200m, according to a source close to the deal.

Theresa May stunned the UK on Tuesday by calling a snap general election, but equity capital markets remain calm and the next wave of IPOs is becoming more visible, with two more new deals announced this week.

Misys, the UK financial software firm, held bank meetings on Tuesday in London for a €1bn term loan to back its $3.6bn-equivalent acquisition of D+H, a Canadian competitor, following sponsor Vista Equity Partners’ failed IPO of the UK firm last year.

Peer-to-peer lender China Rapid Finance has launched bookbuilding for its US listing, which could raise $115m, according to a termsheet seen by GlobalCapital Asia.

State Grid Corporation of China, China Huarong Asset Management Co and State Development & Investment Corporation have mandated banks for new bonds, with the latter making its debut in the international market.

Aluminum Corp of China, Peking University Founder Group, Beijing Enterprises Holdings and Singapore’s Oxley Holdings all walked away with new bonds on Wednesday, wrapping up a blockbuster issuance week ahead of Easter.

CCB Life Insurance Company on Wednesday sold a core tier two subordinated bond under China’s Risk-Oriented Solvency System (C-ROSS), becoming only the second issuer to do so. While the offshore market has seen increasing supply from Mainland insurers, the outlook for more core T2 issuance is unclear.