Morgan Stanley
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Shares in Solvay, the Belgian chemical company, closed at €103.65 on Thursday, up 3.1% since Monday night, after shareholders voted to approve the €1.5bn rights issue to finance its takeover of Cytec Industries, the US maker of advanced materials. -
Three shareholders in Dongbu Insurance Co pared down their stake in the company via an accelerated share sale on the evening of November 18, raising W343.3bn ($293m).
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Allied Irish Banks was in a generous mood on Thursday, launching its first tier two since the crisis at a much higher premium than rival bankers thought necessary.
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Bankers and investors on Wednesday said the failure of Veritas Technologies' $2.5bn bond deal — which was pulled along with an accompanying $3.3bn loan package on Tuesday — showed evidence of familiar weaknesses and errors in the European high yield market.
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The weakness of the US leveraged finance market was brought home to market participants with a jolt on Tuesday, when the Carlyle Group, which is buying Veritas Technologies, a US data storage company, abandoned its attempt to raise $3.3bn of debt for the deal.
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Singaporean utility company SP PowerAssets made a rare outing to the dollar bond market on November 18, raising $700m from a tightly priced 10 year note.
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Three shareholders in Dongbu Insurance Co are selling shares worth up to W357bn ($305m), in the first block trade exceeding $100m from South Korea in a month.
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Allied Irish Banks revealed a 90bp jump in its fully-loaded common equity tier one ratio on Tuesday, and wasted no time in mandating banks for a highly anticipated tier two deal.
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ING Bank was able to price its debut euro green bond inside its regular senior curve on Tuesday, with bankers estimating a very slim premium for the well subscribed trade.
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Asia’s debt market saw a busy Tuesday with a trio of issuers, SP PowerAssets, Stats ChipPac and TUS Holdings, venturing out for dollars.
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Chinese company Yirendai, an online consumer finance marketplace, is eyeing the New York Stock Exchange for a $100m IPO and has a filed a preliminary prospectus for the listing.
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Veritas Technologies, the Californian data storage company, has increased its high yield bond issue to make up for a disappointing loan financing. But initial price talk has yet to emerge.
