Morgan Stanley

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.

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.

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.

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.

Guorui Properties and Kangde Xin Composite Material Group are preparing for their respective debuts in the international debt market.

Municipality Finance is set to follow the European Investment Bank into the five year part of the dollar curve, as a slight tightening in swap spreads failed to deter issuer and investor sentiment for bonds in the currency.

Coating resins business Allnex launched a €425m-equivalent incremental term loan dividend recapitalisation this week, the fourth such deal this year, on top of its repricing request on existing facilities.

Singapore-listed commodities trader Noble Group returned to the international bond market on Monday after a hiatus of nearly three years. Despite the continuous noise around the credit, investors appear to have put the company’s past behind them as they piled into the $750m deal.

Five new IPOs were announced in EMEA this week as the market enters a crucial window in the run-up to Easter.

The BBC has entered into a swap contract, organised by Morgan Stanley, that it predicts will achieve up to £34m of annual savings on the running costs of its London headquarters.

Morgan Stanley returned to the sterling market for £1bn of tightly priced 10 year funding on Monday, as the market showed the promise of supporting larger deals from both domestic and international borrowers in FIG.

Deutsche Bank confirmed over the weekend that it was preparing an €8bn rights issue, alongside a fresh strategic overhaul that includes a partial IPO of its asset management division and the reintegration of Postbank.