Morgan Stanley
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Morgan Stanley chose one of its own to take over the role of head of fixed income for Asia ex-Japan, a spokesperson at the bank confirmed. -
Lenovo Group priced a five year fixed bond and a subordinated perpetual non call five in a soft market on Thursday and on the back of disappointing third quarter results. But investors shrugged off any concerns and poured into the transaction.
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Chinese high yield names Kangde Xin Composite Material Group and KWG Property priced new dollar deals against a weakening market backdrop on Thursday, forcing the pair to adjust their expectations in order to get ahead of an interest rate hike.
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International borrowers made good use of sterling this week, finding value in the market despite risks around the UK budget and the government's intention to trigger Article 50 later in the month.
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Investors are bracing themselves for another wave of corporate deals next week after the European Central Bank (ECB) stuck to analyst expectations on Thursday, leaving its monetary policies unchanged.
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The Republic of Croatia has picked four banks to revive a euro benchmark deal it was forced to delay last year after anti-government protests in Zagreb in the early summer.
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Turkey’s Garanti Bank on Thursday joined the pre-Fed rate rise rush to open books on a senior six year bond with a 35bp-40bp premium.
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Chinese high yield names KWG Property Holding and Kangde Xin Composite Material Group Co, as well as unrated Lenovo Group, launched dollar deals on Thursday morning — just one day after Indian high yield issuer Eros International pulled its bond because of weak demand.
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Royal Bafokeng Platinum raised R1.2bn ($92m) on Wednesday with its first convertible bond, as it ramps up its investment again after a recovery in the platinum price.
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The African Development Bank sold its largest ever benchmark on Wednesday, in a deal which bankers said should hammer home the issuer’s “new style” to investors. Meanwhile, Municipality Finance brought its first dollar benchmark of the year.
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Guorui Properties and Kangde Xin Composite Material Group are preparing for their respective debuts in the international debt market.
