Morgan Stanley

Electronic trading firm Ion Trading has tapped its term loan signed in August by subsidiary Wall Street Systems for €130m, as the latter acquires fellow fintech firm Reval.

Morgan Stanley followed Goldman Sachs’s lead by putting a one year call option on a senior bond on Monday, as it became the third US bank to visit euros after publishing third quarter results.

China Resources Pharmaceutical Group priced its Hong Kong IPO near the middle of expectations on Friday morning, raising HK$14bn ($1.8bn) after investors stormed into the trade.

US banks reporting earnings in the third quarter ubiquitously saw steep upturns in revenues from fixed income trading, despite some seeing overall falls in year over year revenues, as divergences of opinion on the Federal Reserve’s plans for interest rates caused increased trading in bonds.

Wall Street’s biggest firms wasted no time hitting the dollar market with total loss absorbing capacity (TLAC) related deals after unveiling a strong recovery in third quarter earnings.

Valmet — Segro — Ecom — Aluminium Bahrain — Morpho

In a troubled new issue market strewn with casualties, the $1.8bn-plus IPO of ConvaTec, the UK medical supplies maker, got covered at its base size on Tuesday, while Misys, the London-based banking software producer, opened the books for its £650m-£750m IPO with a lower free float than initially planned.

China Resources Pharmaceutical Group, Samsung BioLogics and ZTO Express all have investors clamouring to join their IPOs, as they look to raise a combined $5.2bn.

China Resources Pharmaceutical Group has tightened the price range on its IPO, putting it on track to raise up to HK$14.8bn ($1.9bn), according to a banker on the deal.

Brazil’s biggest producer of processed food BRF has signed up as a cornerstone investor on Cofco Meat Holdings’ HK$2.59bn ($333.9m) IPO, according to a statement from the São Paulo-based company.

ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.

PNB Housing Finance and Varun Beverages are launching their IPOs in India next week to raise a combined Rp41.1bn ($616.9m).