Morgan Stanley

African Development Bank has sold its first international South African rand syndication since 1999 and may issue again in the currency before the year is out, GlobalCapital understands.

CGN Power has closed books a day earlier than scheduled after seeing massive oversubscription for its HK24.52bn ($3.16bn) IPO, with pricing now likely to be done overnight.

Altice made a firm step towards adding to its European telecoms portfolio on Sunday, when Brazilian telco Oi accepted a raised €7.4bn offer from the French company for the Portuguese assets of Portugal Telecom.

Ping An Insurance Group has raised HK$36.8bn ($4.75bn) from a private placement of shares, with the tight pricing on the deal leading to the stock being allotted to the highest quality of investors with a long term view on the company.

Mobile-based social networking platform Momo’s $232m Nasdaq IPO has been met with overwhelming demand on the first day into bookbuilding, as the company’s link to Alibaba Group led to investors rushing into the deal.

The Community of Aragon has become the second Spanish region to bring a deal to the capital markets since European Central Bank president Mario Draghi made dovish comments late last week. And with the Spanish sovereign’s yields hitting record lows this week, there could be more sub-sovereign action before the year is out.

Supportive secondary markets and tightening credit indices have deceived issuers of senior and covered bonds in the FIG market, causing five to pull the plug on new transactions over the span of five trading days. That left market participants wondering if the year is over for FIG issuance, as investors happy with returns on the year have avoided taking on further risk — despite issuers offering spreads that have previously led to successful deals, writes Nathan Collins.

Vista - Alcentra - Irish Funds Industry Association

Export Development Canada left US dollar investors with a sweet taste when it issued the last expected dollar benchmark of 2014. It printed a deal in line with — or slightly through — its curve that was still well oversubscribed and traded tighter versus Treasuries in secondary.

After months of spread tightening and an unremitting stream of successful deals, the positive mood in the primary covered bond market finally broke this week. Amid a weakening secondary market, OP Mortgage Bank only just managed to get a deal away and AIB Mortgage Bank became the only covered bond issuer to postpone a deal this year.

QBE Insurance braved it alone in the subordinated market this week as it became the second Australian financial to tap the dollar market for a tier two bond that would convert to equity or write down upon point of non-viability (PNV).

Jasmine Broadband Internet Infrastructure Fund has opened books on its Bt38.5bn ($1.2bn) IPO, with bankers on the trade confident about demand, despite the lack of cornerstone investors.