Morgan Stanley

Permanent TSB proved the boldest bank in the euro market on Monday and opened guidance on a three year senior trade, the first since May 12.

Two shareholders of Samsung Life Insurance Co raised W655.20bn ($599.31m) after pricing the shares they were selling near the bottom of the range, breaking a lull in large block trades out of South Korea since March.

Real estate investment trust Foncière des Murs, using the private medium term note format, has made its second ever foray into the capital markets.

Despite choppy markets leading to a quiet week for corporate issuance, the pipeline remains strong with several new issuers announcing roadshows for deals set to be launched this month.

Flint Group, the Luxembourg headquartered UK provider of products and supplies for the printing and packaging industries, is seeking a price cut on a €1.5bn equivalent loan.

The opportunity to buy into one of China’s largest private conglomerates, Fosun International, was too good to miss as keen investor participation propelled the company to take up an upsize option and raise a chunky HK$9.30bn ($1.20bn) from an accelerated bookbuild on May 11.

Taiwan’s United Microelectronics Corp (UMC) made full use of a strong rally in the market and its solid credentials to set aggressive terms for a convertible bond offering a negative yield, raising $600m in the largest equity linked issue in Asia ex-Japan so far this year.

Flint Group, the Luxembourg-headquartered UK provider of products and supplies for the printing and packaging industries, is seeking a price cut on a €1.5bn-equivalent loan.

Belfius Bank is now the sixth bank in the capital deal pipeline, and there is growing concern that persistent rates volatility will make it hard for them to avoid running into each other in the primary market.

Property developer China Resources Land (CR Land) took advantage of the recent rate cut in China to tap the equity capital market for funding with a large HK$10.1bn ($1.3bn) block on May 12. Despite the encouraging result, it was not all smooth sailing for the issuer, which saw one bookrunner leave the syndicate and its bookbuilding delayed by a day.

Labco, the French medical diagnostics firm, is set to price its IPO at or near the bottom of the original range, to raise about €440m of primary and secondary proceeds.

The pipeline for corporate bonds is swelling rapidly, with three issuers mandating for European roadshows on Tuesday, including two from the eurozone’s periphery.