Morgan Stanley

Investors are seeing good value in the long dated tranches of a landmark $7bn four tranche bond and sukuk deal from Malaysia’s state oil and gas company Petroliam Nasional (Petronas), which opened books on Wednesday morning. If the issuer gets the trade away at its target size, the deal will be the second largest in dollars from Asia ex Japan.

Pengai Hospital Management Corp is targeting a Hong Kong IPO of $100m-$200m by the first half of this year, with the company refiling and updating its preliminary prospectus with the city’s stock market regulator.

Malaysia’s state oil company Petroliam Nasional (Petronas) has started taking orders for a four tranche dollar deal split between a five year sukuk alongside seven, 10 and 30 year conventional bonds. An investor said he was expecting a total size of $6bn-$7bn, making the deal potentially the second biggest G3 bond in Asia ex Japan after Alibaba's $8bn deal last year.

Ineos, the Swiss-registered chemical company, has cut pricing on its €1.4bn loan after increasing the facility, a move that investors seem to have taken in their stride.

Mitra Keluarga Karyasehat has priced Indonesia’s largest IPO since 2011, raising Rph4.45tr ($338m) in a deal that saw investors pile in to get their hands on the hospital operator’s stock.

Dave Sandor, a member of Morgan Stanley’s ECM team who focused on equity-linked products, has left. The firm has no immediate plans to replace him.

Ineos, the Swiss-registered chemicals company, has brought forward the deadline for its bond-to-loan refinancing, after nearly doubling the size of the deal on Friday.

The euro senior market was off to a quick start on Monday, with Allied Irish Banks and Deutsche Bank opening the market with five and 10 year deals.

AIA Group returned to the international bond market last week, printing a $750m 10 year bond that targeted US investors.

Turkish bank Akbank has mandated six banks for a five year dollar bond.

Bankers working on the Indonesian IPO of Mitra Keluarga Karyasehat are guiding investors to the middle of the price range offered during bookbuilding, at which level the hospital operator would raise Rph4.26tr ($327.2m).

ICBCIL Finance, a wholly owned subsidiary of Chinese lender ICBC’s leasing arm, has picked four banks to work on its inaugural outing in the international bond market.