Morgan Stanley

Thames Water (Kemble) Finance Plc, the subordinated holding company vehicle of the Thames Water group, issued a £175m bullet bond on Tuesday, joining the dense flow of deals in a high yield market relieved of the eurozone’s recent tensions.

China Construction Bank (CCB) Financial Leasing Corp successfully issued its debut dollar bond on July 21. The $500m deal was multiple times covered as high quality investors competed to get their hands on the strong name in a rare sector that offered attractive pricing.

Zhuhai Huafa Group is preparing to make its second foray into the offshore bond market, with investor meetings expected to kick off on July 23 for a renminbi offering.

A rare Greek IPO was announced on Tuesday, as Poseidon Containers, based in Athens, set out to raise about $230m by floating in New York, to finance purchases of container ships.

The European Stability Mechanism comfortably raised the €2bn it needed from a tap issue on Tuesday — but there were doubts as to whether it has reopened the euro market for SSAs.

Industrial conglomerate Cosan looks set to provide the toughest test of investor appetite for Brazilian credit risk since Petrobras published its delayed 2014 financials results in April.

Morgan Stanley’s Institutional Securities division has put in a stellar performance in the last three months, with revenues in that division up 22% to $5.17bn on the year.

China Construction Bank (CCB) Financial Leasing Corp came straight to the market after a roadshow for its debut dollar outing. Bankers on the deal hope the borrower’s strong name in a rare sector as well as decent premium attract strong demand.

Existing shareholders have sprung into action to support Jardine Cycle & Carriage’s S$1.0bn ($729m) one-for-nine rights issue, with the deal ending up well oversubscribed.

The chief executive and other top officers of Merlin Properties, the acquisitive Spanish real estate company, have been on the road this week, for the company’s second rights issue in three months, as it seeks €1.034bn to buy Testa, another property firm.

The European Stability Mechanism is set to bring the first syndicated euro deal with a size over €1bn in more than a month — but SSA bankers are split on whether it will reopen the euro market.

Austrian insurer Uniqa Group has launched a €500m subordinated note, its first appearance in the market since 2013.