Morgan Stanley

Any fears about the resilience of the US corporate bond market were set aside on Thursday when Verizon Communications amassed a $115bn orderbook and printed one of the biggest deals of the year.

Lancashire Holdings issued its first subordinated bond this week, a Reg S dollar tier two. There has been a near complete absence of insurance capital trades from the euro and dollar markets so far this year, but bankers are confident that more will follow.

Asia’s debt market was hit with volatility this week, putting pressure on secondary trading, denting primary bond supply and forcing investment grade borrower Indian Railway Finance Corp to pull its dollar transaction. Is there any respite on the way? Morgan Davis finds out.

Oman's Bank Muscat this week returned to debt markets after a brief hiatus to sell a dollar bond. The deal was one of only a few across CEEMEA this week, as market participants say interest rate volatility is still deterring issuance.

Remo Ruffini, the Italian fashion billionaire, has offloaded €412m of shares in Moncler, the luxury goods company famous for its down jackets, through an accelerated bookbuild on Tuesday night.

Vantage Towers, the telecoms towers division of Vodafone, has announced the price range for its IPO on the Frankfurt Stock Exchange and secured cornerstone orders for almost half of the deal size. The deal is smaller than many had expected, as rising bond yields continues to impact wider equity markets.

China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.

Indian Railway Finance Corp postponed its dual-tranche dollar bond offering on Monday when faced with a volatile market backdrop that ‘bamboozled’ the banks running the deal.

Rising oil prices will boost economic growth across the Middle East, possibly reducing reliance on capital markets funding. But the immediate concern for markets will be the path of interest rates.

Intesa Sanpaolo ventured outside of its home market in search of senior paper this week, placing its first sterling deal in almost nine months and its first yen trade since early 2019.

Cheerwin Group has pocketed HK$3.07bn ($395.3m) after pricing its IPO at the top of the marketed range, according to a source close to the deal.

Europe’s high grade corporate bond investors had their pick of US names this week, with issuers cramming in to raise €7.2bn of debt across 10 tranches.