Morgan Stanley

Beijing based pork processing company WH Group opened books for its $5.31bn Hong Kong IPO on Thursday and will take bids until April 22.

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A busy week for peripheral bond issuance continues with Intesa Sanpaolo readying a floating rate senior unsecured deal on Thursday.

Greece’s capital market comeback bond will be priced at the tight end of guidance on Thursday after the sovereign drew an extremely large book to the deal.

Mexican state-owned oil company Petróleos Mexicanos tightened pricing aggressively on its return to the euro market to clinch a €1bn 12 year at a new issue concession of zero, according to bankers on the deal.

Beijing based pork processing company WH Group, which is the largest in the world, opened the books for its mega $5.31bn Hong Kong IPO on Thursday.

Petróleos Mexicanos opened books on a euro benchmark bond on Wednesday morning, after ending a four year absence from that currency late last year. The borrower is pushing out its euro curve with a 12 year bond to take advantage of the thirst among German and French investment grade accounts for longer dated, higher yield paper, said bankers on the bond.

Allied Irish Bank will sell its second senior unsecured benchmark since the crisis on Wednesday afternoon, a curve extending five year trade that has drawn a favourable response from investors.

Uruguay-headquartered Navios South American Logistics and Peruvian Abengoa Transmisión Sur joined the ranks of Latin American borrowers taking advantage of strong issuance conditions in dollar markets with well-bid deals on Tuesday.

Corporate investors with exposure to the Korean won are choosing to stay out of the options markets this week, as the KRW strengthens against the US dollar.

WH Group, the world’s largest pork processing company, has finalised the price range for its jumbo IPO and was in final discussions with anchors on Wednesday, with a view to opening books for the deal on April 10.

Ronan McCullough, managing director, head of Asia Pacific debt capital markets and syndicate at Morgan Stanley, will move to the US with the bank later this year, with his replacement to come from within the bank, according to sources.