Morgan Stanley
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The major US banks posted surging fixed income numbers in the fourth quarter last year, driven by the Donald Trump and Fed-inspired steepening yield curve, and a flurry of trading around the election itself. This performance turned the year’s normal progress on its end, as a strong fourth quarter made up for a lacklustre first.
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The tally of sterling high yield bond sales in January is on course to reach £2bn, a sensational reversal from 2016’s entire first quarter without issuance in the currency, with several issues this week despite news that the UK will seek to leave the EU single market. -
Bankers hope 2017 will prove a more vibrant year for Russian IPOs, after the country's stockmarket was one of Europe's best performers last year and Western investors are thawing towards it.
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Wall Street banks celebrated a surge in earnings by flooding the dollar market with multi-billion dollar trades featuring callable tranches this week.
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Morgan Stanley has snared one of the top business services investment bankers to run its team in Europe, the Middle East and Africa.
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The tally of sterling high yield bond sales in January is on course to reach £2bn after Jaguar Land Rover on Thursday launched a new £300m offering, adding to a recent surge of deals in the currency.
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Repeat Chinese issuer Yuzhou Properties Company and debut credits Reward Science and Technology Industry Group Co and United Photovoltaics pushed into the busy Wednesday market, looking to close dollar deals before the holiday.
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Pattern Energy Group is planning to print its first corporate bond this week with a $350m high yield offering that will primarily finance acquisitions of wind power projects from its developer-sponsor, Pattern Development.
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Xella, the German building materials maker, held a bank meeting on Thursday morning in London for the first large buyout of the year so far, as it markets €1.3bn of loans backing its buyout by US private equity house Lone Star.
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China Development Bank priced a mammoth five tranche deal Tuesday, raising more than $4bn across three dollar and two euro tranches, making it the first Chinese name to issue a euro deal this year.
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Every shade of corporate bond has been able to find a home with euro investors this week, despite investors’ mutterings about overly zealous spread tightening and continued scepticism about the long end.
