Morgan Stanley
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The main shareholder in Monte dei Paschi di Siena sold a 12% stake in Italy's oldest bank on Tuesday. -
Mexican conglomerate Grupo Alfa, owner of two well known LatAm bond issuers Tenedora Nemak and Alpek, could sell its first dollar bond by the end of the week despite officially being on a non-deal roadshow.
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US listed Chinese social media company YY successfully priced a $400m equity-linked deal on its second attempt to access the convertible market, by relaxing the pricing terms and following in the footsteps of Vipshop to use Asian demand to build momentum.
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Norwegian shipping fuel provider OW Bunker is set to raise Dkr3.295bn ($614m) through a Copenhagen IPO launched on Monday.
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Italian carmaker Fiat joined the recent flurry of crossover issuers on Tuesday with a seven year speculative grade rated bond. The deal attracted strong demand of over €4.5bn, which allowed Fiat to issue €1bn.
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US listed Chinese social media company YY is back in the market with convertible bond after pulling a deal towards the end of last year, as it failed to attract enough investor interest.
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Plenty Gold Enterprises raised HK$1.12bn ($143m) after reducing its controlling stake in China’s Sihuan Pharmaceutical Holdings Group on March 17.
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Brazilian companies that would like to issue are likely to do so before the football World Cup begins on June 12, said DCM bankers focussed on the country after meatpacker Marfrig sold the first high yield bond of the year from the country late on Thursday.
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Internet giant Alibaba Group has hired six international banks for its US IPO, which could be worth more than $20bn, according to a banker close to the trade.
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Morgan Stanley has named Ben Falloon as its new head of fixed income for Asia Pacific ex Japan, according to a memo seen by GlobalCapital Asia.
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Over €10bn of orders proved inadequate insurance against a shift in sentiment this week as the tightest additional tier one debt deal yet — KBC Group’s €1.43bn perpetual non-call five — widened in secondary trading. The pullback followed the deal emerging even further inside 6% than its landmark predecessor.
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Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.
