Morgan Stanley

Inter-American Development Bank treasurer Søren Elbech signed off with a final benchmark before he moves to Danish wind turbine manufacturer Vestas at the end of the month, raising $2bn with a July 2017 global bond on Wednesday. Despite the deal being slightly undersubscribed, bankers away from the trade were impressed that the supranational was able to raise so much cash at a near rock-bottom yield.

The market for new equity issuance sprung back to life on Tuesday with the London launch of an IPO for Card Factory, as market confidence grew after some weakness in trading before Easter.

Turkish Finansbank, 77.23% owned by the National Bank of Greece, has picked Citigroup, HSBC, Morgan Stanley and Standard Chartered Bank to run a series of investor calls with international investors on Thursday. A benchmark 144A/Reg S note may follow.

WH Group delayed, restructured and shrank what would have been a $6bn IPO this week, after revelations about corporate governance gave investors qualms. The situation was undoubtedly made worse, however, by the issuer's decision to use a 29 bookrunner syndicate — a record for a Hong Kong IPO.

Weibo Corp was forced to price its $286m Nasdaq IPO at the bottom of the range on April 16 after it bore the full brunt of investors' waning confidence in the China tech story. But after a strong trading debut which saw the stock rally 17.9%, more of its industry peers are trying their luck in the US.

China National Offshore Oil Corporation printed a $4bn triple-tranche bond on Wednesday night with investors flocking to the 10 year portion, which attracted a $9.4bn final order book.

The National Bank of Greece is set to price its five year senior unsecured bond inside where the Greek government’s recently issued five year sovereign bond is trading, as the exuberance of the peripheral recovery story continues.

Italian insurer Assicurazioni Generali took advantage of a good market tone to offer up a deal that combined several features of recent success stories: subordinated insurance debt, and Europe's periphery.

China National Overseas Oil Corporation opened the books for a three tranche transaction on Wednesday morning as the issuer embarks on its annual bond fundraising, joining a number of other Chinese state owned enterprises that have come to the market in recent weeks.

Weibo Corp’s encouraging trading debut on the Nasdaq last Thursday, which saw its stock trade up by 17.9%, was a much needed boost to Chinese technology stocks that has been hurt by a recent price correction. And mobile game developer Chukong Holdings may be well placed to capitalise on the renewed optimism having filed for a $150m Nasdaq listing one day after Weibo’s debut.

Moroccan phosphate group OCP priced its $1.25bn of 10 year notes at a 5.75% yield on Wednesday evening, through the tight end guidance that had already been crunched to 5.875% area. A $300m 30 year note was also added in the afternoon, which was priced at 7.375% in line with guidance.

Morgan Stanley recorded a $200m year-on-year net revenue rise in its fixed income and commodities business in the first quarter, bucking the declining trend seen in its peer group.