Morgan Stanley
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Food conglomerate BRF Brasil Foods is likely to bring a new dollar bond to market soon after announcing a tender offer for outstanding debt subject to financing on Wednesday morning.
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Alibaba moved a stepped closer to its high anticipated IPO with the company filing its preliminary prospectus to the US Securities and Exchange Commission on May 6. -
China Cinda Asset Management opened the books for a Reg S/ 144A dual tranche issue on Wednesday morning. Despite the complex nature of the issuer’s business, dealers are optimistic that the transaction will be able to overcome the challenges that China Orient Asset Management faced last year.
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Sinochem unleashed another bond into the market less than two weeks after it raised $500m with a five year issue. This time, the Chinese state owned conglomerate is offering its sophomore dim sum with a three year transaction.
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Flint Group, which makes products for the printing and packaging industries, has made final adjustments to the original issue discounts for its €1.5bn-equivalent of debt.
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Bank of China Aviation printed a five year bond on Wednesday night as the issuer looks to solidify its presence in the market after it more than doubled the size of its EMTN programme last month.
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Bank of Beijing’s $4bn Hong Kong IPO is picking up steam after bankers close to the trade confirmed that Goldman Sachs and Morgan Stanley were mandated to lead the transaction, which obtained approval from its board of directors only on Tuesday.
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Three periphery issuers took the limelight in the senior market this week — Banco Espírito Santo, Bank of Ireland and La Caixa all selling euro benchmarks. All three issuers can be pleased with their order books — La Caixa recording hefty demand and Bank of Ireland and BES impressing on quality.
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Flint Group, which provides products and supplies for the printing and packaging industries, was oversubscribed in commitments for its €1.5bn-equivalent of debt, after widening the pricing on the Thursday.
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Moroccan phosphate group OCP tapped the $300m 30 year notes it sold a fortnight ago for a further $300m on Monday, bringing the total deal size to $600m. The book for the deal reached over $1bn as investors enthusiastically bought more of the note that had tightened around 50bp in yield terms since pricing.
