Morgan Stanley

China Orient Asset Management made a blockbuster return to the dollar market on Wednesday, attracting $10bn in bids for its dual tranche issue. The enthusiastic investor response is a reflection of the progress that China’s toxic asset management sector has made in G3 bond markets since when China Orient brought out the sector’s first offering in September 2013.

Transurban, a Melbourne based toll road developer and manager, will start a four day roadshow in London and Europe on Monday for a potential euro bond.

The Republic of Turkey has mandated four banks and set investor meeting for the start of September with a view to selling a Samurai bond. Bankers said that this year could be a record for this kind of note as volumes are almost level with the full year 2013.

China Orient Asset Management is back in the dollar market, offering a dual tranche five year and ten year deal on Tuesday to build out its curve in the currency. The borrower became the first of China’s big four bad debt managers to tap the G3 market when it printed a three year dollar bond in September 2013.

The base case fair value yield to call for Basel III compliant additional tier one (AT1) instruments from China’s mega banks should be between 7% and 8%, according to Morgan Stanley.

China Metallurgical Group Corporation (MCC) priced its second dollar bond of the year on Thursday. The borrower again opted for a standby letter of credit (SBLC) backed three year issue after striking success in its first outing with the structure.

UBS hires for FIG DCM - Hentschel quits SocGen - First Gulf poaches Aissaoui - Saini departs Morgan Stanley - Karwelies joins UBS from BAML

China Metallurgical Group Corporation (MCC) is back in the market with a new bond, its second this year to be backed by a standby letter of credit (SBLC).

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.