Morgan Stanley
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Bank of China Aviation is poised to meet investors ahead of its 144A return that could hit the market as early as next week, while HK Electric has mandated banks for Reg S notes.
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A hungry euro market gorged on deals from France and the European Union on Tuesday, instilling confidence that a trio of trades on Wednesday’s menu will go well — despite two of them being in the same tenor.
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PNB Housing Finance has made changes to the bank group leading its $400m Indian IPO, bringing in Bank of America Merrill Lynch to replace Barclays as a lead manager, according to a source close to the trade.
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Bank Nederlandse Gemeenten, FMO, Japan Bank for International Cooperation and the Province of Quebec all hit screens on Monday for forthcoming dollar deals, with bankers remarking that the SSA market could be set for another hectic week.
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Several events have improved investor sentiment around the Turkish lira, but analysts warned that options are underpricing risks from the politicisation of the central bank and the weakened tourism outlook.
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France is preparing its first dual tranche trade, targeting the 20 and 50 year parts of the curve, while bankers expect the European Stability Mechanism to aim for a shorter tenor this week.
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A long serving head of emerging market syndicate has relocated to New York.
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The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.
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The European Investment Bank and the European Union kicked off April by printing impressive benchmark deals, yet despite this strong start to the quarter SSA bankers fear that a combination of the threat of a Brexit and the low yields on offer in the euro market will make conditions extremely challenging for issuers.
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