Morgan Stanley

ValueAct’s involvement in Morgan Stanley could have broader implications for the banking industry, writes David Rothnie.

A pair of issuers brought comfortably oversubscribed dollar benchmarks on Wednesday, leading bankers to speculate that other issuers could be tempted to follow with trades in the currency next week.

A pair of public sector borrowers are set to join NRW.Bank in the dollar market this week, taking advantage of good conditions — and with perhaps one eye on the US presidential election in early November.

Greenko Energy Holdings became the first Indian corporate to sell a green bond in US dollars this week, setting a benchmark for high yield names in the sector. Issuers from the south Asian country are leading a charge for green debt in Asia and more corporates are set to follow suit. Addison Gong reports.

One of the longest running and most painful sagas in global leveraged finance came to an end this week when high yield investors on Wednesday accepted Veritas Technologies’ €600m-equivalent secured seven year non-call three senior bond eight months after it was first launched. Victor Jimenez reports.

India’s RBL Bank has fixed the price range and bookbuild dates for its IPO next week, which is set to raise Rp12.1bn ($180.6m).

Greenko Investment Company is building books for what will be India’s first dollar-denominated green bond by a corporate issuer. On the same day, BoCom HK has returned with a three year dollar floater.

China Minsheng Hong Kong International Leasing has hit the loan market for a fresh money borrowing of $200m, via two mandated lead arrangers and bookrunners.

The London Metals Exchange plans to offer a range of exchange traded and centrally cleared precious metal products, starting with gold and silver spot and futures contracts.

Veritas Technologies on Tuesday began marketing a €580m-equivalent secured bond, the last leg of the debt package that supports its acquisition by private equity firm Carlyle — and that investors rejected in November 2015.

Two of India’s largest life insurers, HDFC Standard Life Insurance Co and Max Life Insurance Co, have finalised the terms of their merger and subsequent listing on the country’s stock exchanges.

BMW tapped into the increasing pace of corporate sterling bond issuance as it issued a benchmark six year offering against the backdrop of anticipated central bank intervention in the market.