Morgan Stanley
-
-
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. -
US private equity firm Vista has entered into a £725m agreement to acquire Advanced Computer Software, the UK software and IT services provider.
-
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.
-
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.
-
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.
-
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).
-
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.
-
Chinese company Sinopharm Group raised a chunky HK$5.55bn ($715m) through a private placement of shares to nine investors over the weekend, with its stock sliding by around 6% on Monday’s trading session.
-
Alibaba amassed a whopping $55bn of orders from investors for its landmark $8bn deal which ranks as the biggest G3 bond from an Asian ex Japan issuer. But some investors opted to stay on the sidelines after pricing was tightened up to 27bp across the six tranches.
-
BBVA raised €2bn of fresh equity on Wednesday evening, to finance its acquisition of a 14.89% stake in Turkey’s Garanti Bank — taking its stake in the bank to 39.9%. The €2bn will pay for the whole stake.
-
A short window of issuance is open for borrowers with dollar benchmarks to do ahead of the Thanksgiving holiday next week that heralds the traditional close of the market.
