Morgan Stanley

Labco, the French medical diagnostics firm, published its intention to float in Paris on Wednesday and began investor education for an IPO that could be as large as €640m.

Moroccan fertilizer company OCP has released initial price guidance of 4.875% area for a 10.5 year dollar benchmark, offering around a 12.5bp new issue premium for the deal.

China Communications Construction Co (CCCC) made a successful debut in the international bond market on April 14 with a senior perpetual bond. Its rarity value, attractive pricing and great timing drew huge demand from investors, which allowed the issuer to achieve the lowest coupon for a senior dollar perp in Asia.

The Asian bond market is in full throttle this week with a flush of new issuance from mostly investment grade names. But the high yield sector was not to be outdone with Central China Real Estate printing a red hot $300m bond that was close to 12 times covered.

JP Morgan and Morgan Stanley yesterday successfully sold a 10% block of Spire Healthcare shares, only to see the stock fall 10% in trading today in what one lead banker called a “disappointing” outcome.

Of Monday night’s two other block trades, besides the sale of shares in Spire Healthcare, one went well and was increased, while the other – in Al Noor Hospitals, was not covered.

Abengoa, the Spanish engineering and renewable energy firm, on Thursday ticked the savings box with €375m of senior unsecured notes that achieved final terms below the 8.5% 2016 bond they are set to repay.

The FIG market could be set for a spate of issuance from the eurozone’s periphery in the coming weeks, with bankers tipping other financial institutions to follow Spanish pair CaixaBank and Ibercaja into the primary market.

Bahrain’s Ahli United Bank has mandated Goldman Sachs, HSBC and Morgan Stanley to arrange a tier one dollar bond.

The management of lingerie maker Cosmo Lady China Holdings has raised HK$796.8m ($103m) by selling shares, taking advantage of the recent stock rally to recoup some of their investment.

Central China Real Estate is looking to stand out in a crowded Asian bond market by offering investors a tasty price concession on its five year bond on April 14.

China Communications Construction Co (CCCC) has opened books to its maiden deal in the international bond market, having chosen a rare senior perp structure for a debut issue.