Morgan Stanley

Intercontinental Exchange, the US operator of stock exchanges and clearing houses, is considering making an offer for the London Stock Exchange, in a move that could derail the latter's merger with Deutsche Börse.

The US FIG market rebounded sharply this week as Mitsubishi UFJ Financial exploited a favourable market backdrop and printed the first TLAC eligible senior trade from a Japanese bank.

3i and BNP Paribas, two of the largest shareholders in Eltel Networks, launched a block trade for 15% of the business on Thursday night.

Senvion, the German wind turbine maker, has become the first of this year’s second wave of IPO candidates, announcing on Monday this week its intention to float in Frankfurt.

LyondellBasell Industries, the Dutch/US petrochemical producer, emerged as the only corporate bond deal on Wednesday, offering a six year benchmark transaction.

Mitsubishi UFJ Financial Group successfully wrapped up Asia’s first bond that meets total loss-absorbing capacity (TLAC) requirements on Tuesday. By providing a strong benchmark in this new asset class, the transaction is set to encourage more issuance from Japan.

Mitsubishi UFJ Financial Group is on its way to sell Asia’s first bond that meets total loss-absorbing capacity (TLAC) requirements. Launched on Tuesday, there is plenty of guesswork among market participants about fair pricing.

Options market participants have demanded higher premiums to bear exposure to volatility in the British pound after talks in Brussels failed to produce a decisive deal to help UK prime minister David Cameron win the upcoming referendum.

The extraordinary versatility of convertible bonds — but also the market’s unpredictability — were highlighted on Thursday when Vodafone launched an unprecedented £2.88bn bond designed to achieve the near impossible: debt-like funding that counts as equity but is not dilutive to shareholders, writes Jon Hay.

JP Morgan and Morgan Stanley, bookrunners of Vodafone’s unprecedented £2.88bn mandatory convertible bond, have just gone out with a message saying the book for the deal is covered. The book will close at 7.45pm London time.

KfW this week printed its widest five year KfW dollar benchmark since 2009 as negative swap spreads took their toll on pricing despite an improving macroeconomic backdrop.

Nordic Investment Bank has printed the second dollar benchmark from an SSA this week, as issuers contend with the effects on pricing of negative swap spreads.