Morgan Stanley
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Portugal found the best possible medicine to a rising fever in its bond yields by building a large order book on Wednesday for its first syndication of 2017. Attention now turns to Italy, which faces a crucial rating review by DBRS on Friday. -
Ten year Pfandbrief €500m deals issued this week by NordLB and Bawag were narrowly oversubscribed even with the support of the Eurosystem.
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Two KKR backed firms have brought the first European leveraged loan market repricings of the year, picking up on a trend that is already in full swing in the US this year.
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Corporates from Hong Kong, China and Singapore were clamouring for investors’ attention on Thursday for their respective offerings.
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Portugal took out around a fifth of its funding programme for 2017 on Wednesday, printing a €3bn 10 year deal. Bankers away from the trade said pricing looked a little cheap — but at the same time defended the sovereign’s debt office for playing it safe to win size.
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Indian power company NTPC and Malaysia’s Genting Overseas Holding Company are planning their respective debut outings, with the former seeking euros and the latter dollars.
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Foncière des Régions, the French property company, has achieved a covered book for its €348m capital increase to finance the acquisition of a portfolio of 19 Spanish hotels through its subsidiary Foncière des Murs.
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Portugal will kick off its funding year with a 10 year euro benchmark, mandating for the deal on Tuesday shortly after announcing its bond issuance target for 2017.
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Spanish telecoms provider Telefónica hit the euro market on Tuesday for a dual tranche offering that tested the outer limit of investors’ appetite for long tenors.
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Following the tragic death of Romain Etienne last week, his family welcomes all friends and colleagues that want to attend his funeral.
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Morgan Stanley and UBS are looking to bump up their stakes in their respective securities joint ventures in China to the maximum 49%, said sources from both banks.
