Morgan Stanley

Since its arrival 40 years ago, Morgan Stanley has been adopted by the UK investment banking industry as one of its own, writes David Rothnie.

Africa Finance Corporation was on track to print a seven year bond on Thursday and had taken orders of $1.9bn on Thursday morning.

Gestamp Automoción, the Spanish car parts maker, has completed the largest Spanish IPO of the year so far, having priced the deal at the bottom of its initial price range late on Wednesday.

ING Life Insurance Korea launched bookbuilding for its W1.3tr ($1.2bn) IPO on Thursday, in a deal helmed by five firms.

China Everbright Greentech (CEG) is drumming up interest for a $500m Hong Kong IPO, with investor meetings starting this week, said bankers on the deal.

Issuers from Greater China, including Yanzhou Coal Mining Company (Yancoal) and Regal Hotels International Holdings, have opened books for new perpetual notes, while China Oil and Gas Group has mandated firms for its return.

Three more IPOs reached successful conclusions on Tuesday and Wednesday, including the largest in Poland for over two years.

The European Financial Stability Facility has launched a dual tranche, picking up a combined €5bn and putting to rest any concerns over its ability to pick up long dated funding.

The European Financial Stability Facility (EFSF) will kick off its second quarter funding programme with a dual tranche. The deal hits screens as the European Central Bank cuts its asset purchase programme from €80bn per month to €60bn per month.

Nine mandated lead arrangers and bookrunners have invited lenders to join the international loan market debut of Ant Financial subsidiary, Alipay (Hong Kong) Holding. The money will partly be used to support Ant’s bid to acquire MoneyGram.

Peer-to-peer lender China Rapid Finance is vying for approval to float in the US, having filed preliminary documents with the Securities and Exchange Commission.

Aston Martin, the UK luxury car maker, made savings of up to 400bp on Friday as it wrapped up its latest bond refinancing bond. Investors came along for the ride but found it a bit of a squeeze.