Morgan Stanley

Just a month after completing a chunky HK$7.9bn rights issue, there was new activity in HKT Trust and HKT Ltd — a single subsidiary of Hong Kong telecoms company PCCW — as an undisclosed existing shareholder raised HK$1.4bn ($181m) by offloading shares.

Mobile phone company Xiaomi HK’s $1bn dual tranche loan has received commitments from 15 banks wanting to join at the mandated lead arranger and bookrunner level. The minimum commitment in the senior phase was $150m.

Berneej Saini is leaving Morgan Stanley, where he was an executive director in high yield at the US bank’s London branch, to work for his family business.

China Vast Industrial Development Company has raised HK$1.02bn ($132m), pricing its Hong Kong IPO close to the lower end of guidance in a deal largely taken up by domestic Chinese investors.

Mobile phone company Xiaomi HK’s $1bn dual tranche loan has around ten banks processing approvals to join at the mandated lead arranger and bookrunner level, for which the minimum commitment was $150m.

China Metallurgical Group Corporation (MCC) is set to tap the debt market for the second time in two months by banking on a strategy that worked out well for it the last time — having a standby letter of credit (SBLC) from one of the bookrunners.

US corporate issuance slowed through the week as books thinned and issuers offered concessions in order to get deals done before the summer holiday season.

Danish telecoms firm TDC has announced it is planning its first bond issue since KKR sold its remaining stock in the company in September last year. Nordic banks could pick up the mandates.

E-commerce firm Alibaba finally looks ready to price its long-awaited jumbo IPO, after it emerged this week that it will begin meeting investors in early September.

Malaysian conglomerate Sime Darby has mandated four banks to work on the IPO of its automobile unit, Sime Darby Motors, according to bankers close to the transaction.

E-commerce giant Alibaba finally looks ready to price its long-awaited jumbo IPO with news emerging Wednesday that it is expected to begin a roadshow in the first week of September.

China Vast Industrial Urban Development Company opened its HK$1.23bn ($159m) IPO on Tuesday, August 12, with books fully covered ahead of launch. But the absence of direct comparables means that investors are buying into a one-of-a-kind story.