Morgan Stanley
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Just as Europe’s banks were really getting stuck in to their post-crisis regulatory capital requirements, rulemakers have thrown them another curveball that will define issuance patterns for the rest of the decade, writes Tom Porter.
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Friday was a great day for Flow Traders to make its stockmarket debut. You might almost think they were traders. The Euro Stoxx 50 index opened 1.6% up as hopes rose of a debt deal for Greece, and doubled that gain by the afternoon. With that wind in its sails, Flow Traders zoomed up 14%. -
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Peruvian development bank Corporación Financiera de Desarrollo (Cofide) attracted more than $2bn of orders for an $800m dual tranche bond offering on Tuesday, jumping into a short lived window of market calm.
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Germany’s KfW is to become the first borrower to sell a fixed rate dollar benchmark since negotiations between Greece and its creditors broke down at the end of June.
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Ace, the Swiss-based insurance company, will fund part of its $28.3bn bid for rival Chubb with $5.3bn of new debt.
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India’s IndusInd Bank raked in Rp43.26bn ($681.85m) from a qualified institutional placement on June 26 that proved extremely popular, as the pipeline of ECM fundraisings feeding into the country’s banks continues to stack up.
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Healthcare firms Universal Medical Financial & Technical Advisory Services Co and Harmonicare Medical Holdings priced their IPOs this week, capping the stampede of listings out of Hong Kong as the pre-summer rush nears an end.
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Flow Traders Coöperatief, the Dutch financial trading firm, put out a price range for its IPO on Tuesday morning and opened the books.
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Shares in Sophos traded up on Tuesday to about 234p, cementing a 4% gain since the UK software security firm’s IPO was priced on the morning of Friday last week at 225p a share. According to the London Stock Exchange, it was the largest software IPO in UK history.
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BNP Paribas has made two senior hires in high yield secondary markets, poaching trader Mike Wheeler from Morgan Stanley and salesman Justin Perry from JP Morgan.
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Morgan Stanley is this year heading Dealogic’s table of Latin America bonds by volume, having finished last year in 10th position. At this time last year it was not in the top 10 at all.
