Morgan Stanley
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South Korea’s Shinhan Bank made a strong impression on bank capital investors this week, pricing a 10 year bullet tier two. Some of the credit for the transaction’s success goes to the fundamental strength of the issuer and the investor-friendly structure of the bond, but market participants say Shinhan’s willingness to pay up also deserves kudos. -
Chinese e-commerce group Alibaba is understood to have seen a good turnout for a roadshow held on Thursday for its $3bn syndicated loan. Bankers reckon the pricing and the potential use of proceeds contributed to the appeal.
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Investment banking fees are lower as a proportion of GDP than at any time since 1995, excluding the crisis years, according to the annual Oliver Wyman/Morgan Stanley study of wholesale banking and markets.
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Senvion, the German wind turbine maker, pulled its €700m IPO on Wednesday morning, after a difficult bookbuild that failed to deliver a covered book.
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GlobalCapital announces the results of its Equity Capital Markets Awards for 2015, following our inaugural ECM Awards Dinner, in London on March 16.
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Senvion, the German wind turbine maker, pulled its €700m IPO on Wednesday morning, after a difficult bookbuild that failed to deliver a covered book.
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Fortune Oil PRC Holdings is in the market for a $240m three year loan that will refinance debt signed in October 2013.
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Chinese e-commerce group Alibaba has launched its latest loan at $3bn, less than a week after it signed an agreement with eight mandated lead arrangers and bookrunners. However, the financing could be even bigger, with the top group hoping demand will be strong enough to increase it to $4bn by the end of syndication.
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This week started with a host of FIG trades, including a holdco blowout from HSBC in euros, and, while supply slowed around the European Central Bank’s meeting, issuance is expected to return with a bang next week after the ECB announced a new stimulus package on Thursday.
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Bank Nederlandse Gemeenten brought a 10 year dollar benchmark this week that sparked much debate about whether other issuers would be able to follow in the tenor. Although with a flurry of other trades this week, it is clear that other options are available once next week’s US Federal Reserve meeting is held.
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Berlin Hyp issued the first negative yielding covered bond this week, giving investors a sign of things to come as financial institutions prepare for another round of monetary policy stimulus from the European Central Bank.
