Morgan Stanley
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Norwegian shipping fuel firm OW Bunker announced on Tuesday that it would bring forward the close of its $625m IPO.
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Chinese online marketplace provider 58.com launched a follow on deal in the US on Monday night, which could be worth up to $370m when it prices on Thursday. -
Beni Stabili, the Italian property company, has shown just how aggressive this year's rally in Italian corporate debt has been, by pricing a five year private placement with a coupon 62.5bp lower than it paid on a four year public bond in January.
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Chinese corporate bonds issued with standby letters of credit from banks are the closest thing to a mispriced asset in Asia and are the most attractive part of China credit, according to Morgan Stanley.
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Hedge funds are buying 12-month put options on US dollar, offshore Chinese yuan, targeting 6.50 and above, in a bid to hedge their core short USD, onshore yuan positions, according to traders.
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The prospect of rising interest rates did not stop Mexican conglomerate Grupo Alfa raising 30 year money as part of its debut dollar bond on Thursday as a more hawkish than expected US Federal Reserve did little to hinder new issues from Latin America.
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Abengoa has increased its seven year high yield bond to €500m. The Spanish engineering and renewable power group priced it at the tight end of guidance on Friday.
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US interest rates are likely to rise next year. Janet Yellen dared say as much at her maiden press conference as Federal Reserve chair on Wednesday, provoking a swift rise in the Treasury curve.
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Rumours of the death of one of the most enduring relationships in global mergers and acquisitions are exaggerated, says David Rothnie.
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Abengoa, the Spanish engineering and renewable power group, wants to issue €400m of seven year senior notes on Friday to prefund a 2015 bond maturity.
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BNP Paribas’ Frank Kwong has moved to the bank’s Tokyo office to joining Kenichi Osawa as co head of debt syndicate Japan.
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Plenty Gold Enterprises raised HK$1.12bn ($143m) by reducing its controlling stake in China’s Sihuan Pharmaceutical Holdings Group on March 17.
