Morgan Stanley

The recruitment drive in insurance DCM ahead of anticipated Solvency II-driven capital issuance continues, with Morgan Stanley hiring a banker from Barclays.

Hong Kong IPOs took centre stage in Asia ex-Japan ECM this week, as two healthcare-related names went live on June 22 while Legend Holdings and Red Star Macalline Group Corp priced their deals at the top end of expectations.

Sky Light Holdings, the accessories maker for the action camera industry, has shot into fame with its HK$676m ($87m) IPO that has priced at the top end of guidance, as retail and institutional investors signed up in droves.

CriteriaCaixa Holding, the unlisted company that owns stakes in CaixaBank and various industrial companies, sold a 2.28% stake in CaixaBank on Tuesday night, via a €566m Morgan Stanley block trade that was quickly covered.

Heinz rounded out an impressive debt financing exercise on Wednesday for its merger with Kraft, adding modestly sized euro and sterling bonds to the $10bn seven tranche dollar issue it had done on Tuesday.

The corporate bond market got back on its feet with vigour on Wednesday, as Capgemini in particular impressed, with a hefty size and even heftier order book for a triple tranche deal — though it had to pay a large new issue premium.

RBL Bank, formerly known as Ratnakar Bank, is looking to raise Rp15bn ($234m) in an Indian IPO, with a syndicate that is significantly larger than when the deal first came to light. The trade is slated to launch in the second half of the year.

Singapore Telecommunications (Singtel) raised $500m through a 10 year bond on June 23, pulling off a big coup by not only pricing the deal tightly but also finding an opportune window to execute its trade.

Export-Import Bank of Korea (Kexim) completed its return to dollars in style this week, selling a SEC registered dual tranche deal that drew over $2bn of demand. Amid a high level of volatility due to concerns over Greece, bankers chose a good window for the Korean policy bank, which was able to meet its size and pricing goals.

The sense that green shoots are appearing in Russian equity capital markets was strengthened on Tuesday evening (June 23) by the European Bank for Reconstruction and Development’s sale of part of its stake in Lenta, the hypermarket chain.

The UK Debt Management Office kicked off its syndication schedule for the 2015-16 financial year with a bond that was more than two times subscribed.

ABN Amro shrugged off Greece concerns and surprised the market with a blowout tier two trade on Tuesday, drawing €8bn of orders from a starving market.