Morgan Stanley
-
Transurban Group, the Melbourne-based toll roads group, brought its European roadshow last week to fruition on Monday with a €600m bond issue that was a bigger blowout than it could have dreamt of.
-
The heavy flow of European corporate bond issues that bankers have been predicting for September began in earnest today, showing that the market’s strength has been no idle boast. Investors swallowed five roadshowed deals in euros and sterling and Vodafone launched a two tranche issue without warning. All were gobbled down with ease.
-
Macquarie and Zurich Insurance kicked off what is expected to be a busy week for senior issuance on Monday as issuers looked to take advantage of positive sentiment following last week's European Central Bank meeting. Zurich was able to draw together a comfortably oversubscribed book, while Macquarie printed with only a small new issue premium compared to secondary paper.
-
The subordinated debt market for European financials was back in full swing with four deals out on Monday morning boosted by the European Central Bank's policy decisions made last week.
-
China's Alibaba Group has thrown open its long awaited $21.13bn New York IPO, with a deal that is likely to be not only the biggest US listing ever but could also break the record for the biggest IPO globally. -
China Auto Rental opened books for a HK$3.62bn ($467m) IPO on Friday morning, in what is the company’s second attempt at a listing after being forced to pull its deal two years ago.
-
-
Europe’s corporate bond market burst into full scale action on Wednesday, after two weeks of sporadic new issuance. A €3bn deal from Sanofi, the French pharmaceuticals company, was joined by €1bn from Toyota Motor Credit Corp, €500m from property company Foncière des Régions and yet another small deal from Volvo (see separate stories).
-
A trio of issuers printed oversubscribed deals in dollars this week, including the Inter-American Development Bank’s largest ever dollar global. More borrowers are eyeing issuance in the currency given the impressive levels of demand on offer, although holidays next week will make windows of issuance few and far between.
-
The wave of acquisition financings kicked off this week as Marathon Petroleum exploited the recent sharp rally rates and caught investors in eager mood following the August lull.
-
Brazil took advantage of the expected negative supply of Latin America sovereign bond paper to sell a $1bn tap of its 4.25% 2025s on Wednesday nearly flat to the country’s outstanding bonds.
-
Mobile phone maker Xiaomi launched its $1bn dual tranche loan into general on Tuesday afternoon, following a successful senior phase during which 17 banks joined for the bookrunner and mandated lead arranger title.
