Morgan Stanley
-
Cosmo Lady Holdings’ HK$1.46bn ($189m) Hong Kong IPO was well received by investors as the institutional tranche ended up multiple times oversubscribed. But it was the strong showing by retail investors that really caught the eye with a 15x covered portion, which triggered the first clawback level. -
Aluminum manufacturer China Hongqiao successfully closed a dollar transaction on Thursday after having previously made two failed attempts to debut in the market. However this around, Hongqiao was well received by investors and the issue was 15 times subscribed.
-
-
Société Generale continued the rush to boost capital by tapping the 144A market with an additional tier one deal.
-
A Federal Open Markets Committee meeting and a holiday in much of Europe this week made opportunities for dollar benchmark issuance few and far between. World Bank leapt into the narrow window with an unusual dual tranche deal that seared its curve and attracted enough demand for the issuer to increase it from its target size.
-
Wheelock & Co made a return to the dollar market on Wednesday, pricing its first bond since March 2013. The Hong Kong real estate company was met with strong demand and it was able to price flat to its existing curve.
-
The market for European financial institutions' subordinated debt took off on Thursday, defying expectations that the holiday in Europe would put a damper on issuance for the week, as Legal & General, Société Générale and Coventry Building Society came to market with deals.
-
Jinmao Investments and Jinmao (China) Investments Holdings, a business trust carved out of Hong Kong-listed Franshion properties, started bookbuilding for a HK$3.39bn ($437m) IPO on Monday, offering prospective investors yields as high as 9%.
-
Chinese car dealer Baoxin Auto Group got into gear for its $150m three year term loan on Wednesday, pricing the deal at 370bp over dollar Libor.
-
Aluminium manufacturer China Hongqiao, opened books for its international debut on Thursday, with a three year dollar bond that is considered groundbreaking because of the rarity of the sector.
-
Alibaba revealed the identities of its much-hyped 27-person partnership on Monday, as the pieces finally start to come together for what is one of the most keenly anticipated IPOs of the year.
-
Property developer Yida China Holdings launched bookbuilding for its HK$1.68bn ($217m) IPO on Monday as it aims to list by the end of the month.
