Morgan Stanley
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Alibaba’s landmark $8bn bond has had an unpredictable time in secondary markets in the week since it was completed, as US and Asian investors reflected different views on pricing. But this does not take away from the deal’s achievements. -
Thule, the Swedish car roof rack and bag maker, made a successful trading debut on Wednesday after pricing its IPO on Tuesday, “multiple times oversubscribed”.
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China Development Bank’s financial arm of CDB Leasing failed to outshine on its comeback through a five year and ten year dual tranche offering on November 25 despite the status of the ultimate parent as the country’s biggest policy bank.
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NXP Semiconductors, the Dutch chip maker, raised $1bn on Tuesday with a convertible bond that used the call spread structure popular with US tech companies.
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Export Development Canada built an oversubscribed book for a new dollar benchmark on Tuesday, despite pricing flat to its curve. The issuer’s rarity and the deal’s proximity to the Thanksgiving holiday in the US on Thursday may have helped boost demand for the paper.
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US private equity firm Vista has entered into a £725m agreement to acquire Advanced Computer Software, the UK software and IT services provider.
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Chinese real estate developer Logan Property Holdings launched a two-day roadshow on Tuesday as prepares its maiden dim sum bond six months after selling its inaugural international issue.
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Retail investors in Denmark will be wary of investing in IPOs of private equity-owned businesses after the sudden collapse this month of shipping fuel supplier OW Bunker.
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Export Development Canada is circulating initial price thoughts for a dollar benchmark in what is set to be a very short window for issuance ahead of the Thanksgiving holiday in the US on Thursday. Bankers away from the mandate said that the price thoughts were aggressive but that the issuer’s rarity and the deal’s limited size should make it a success.
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QBE Insurance is set to become 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).
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CGN Power is on track to be Hong Kong’s biggest IPO in 2014 as investors jostled for a piece of China’s largest nuclear energy producer, with institutional books already multiple times subscribed on day one of bookbuilding.
