Morgan Stanley

The Republic of Turkey is set to price a ¥100bn 10 year Samurai at 29bp over yen swaps offer on Wednesday. The deal is backed by the Japan Bank for International Co-operation (JBIC).

China’s Alibaba Group has increased the price range of its New York IPO to $66-$68 after strong investor demand, as the company looks set to become the biggest US listing ever — and possibly the world’s largest IPO.

Hong Kong’s Sun Hung Kai (SHK) raised HK$1.008bn ($130m) through a top-up share placement on Friday, in a deal that saw demand worth more than $200m come in from investors.

Alibaba Group’s jumbo $21.13bn New York IPO is fully covered one week into the bookbuilding process, with the company now looking to close the deal ahead of the scheduled date. It is also considering selling the shares at higher level.

Allocations are out for Chinese real estate company Franshion Properties’ HK$4bn ($516m) three year dual currency loan that was launched in May to back plans for listing its hotel assets on the Hong Kong Stock Exchange. The deal took a while to close as the borrower’s sector was not a popular one among lenders, said bankers.

Morgan Stanley has hired a levfin and sponsors banker from Credit Suisse, say sources familiar with the situation.

China Auto Rental (CAR) has priced its HK$3.62bn ($468m) Hong Kong IPO at the top of the range, in a deal where the retail portion was more than 160 times oversubscribed.

Hong Kong’s Sun Hung Kai (SHK) opened books at midday on Friday, September 12 for a HK$1.024bn ($132m) top-up share placement, with wall-crossing efforts by the bookrunners over the week leading to the deal launching fully covered.

Morgan Stanley is in the final development stages of its swap execution facility agency service and should launch the platform in the coming months.

The US FIG market returned to normality after the deluge of the previous week’s supply subsided.

Europe’s corporate bond market delivered on bankers’ and investors’ hopes this week, as issuers belted out €13.2bn of deals, pushing this week — by a €20m margin — into the top 10 of the market’s busiest weeks ever.

Emirates NBD sold a $500m tier one perpetual non-call six bond on Wednesday. It was priced flat to the borrower’s existing Basel II compliant note but bankers away from the deal said that it looked to have struggled throughout the execution process.