Morgan Stanley

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.

The Far-Eastern Shipping Co has announced the results of its buyback offer for its 2018 and 2020 bonds.

US advisory firm Blackstone Group has opened guidance on a 10 year senior bond in less than hospitable market conditions, much to the surprise of bankers.

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 upside option and raise a chunky $1.2bn from an accelerated bookbuild on May 11.

China Resources Land is the latest company to join the placement spree in Hong Kong, opening books to a top-up placement that could be worth as much as HK$9.75bn ($1.26bn).

Taiwan’s United Microelectronics Corp raised $600m with a convertible bond on Monday May 11, in one of the biggest equity-linked deals in the country for years.