Morgan Stanley
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Chinese automaker Dongfeng Nissan sold a Rmb4bn ($564m) four tranche auto ABS transaction on Tuesday. The deal got strong demand, following a recent spike in onshore yields. -
China Pacific Insurance (Group) Co has raised $1.81bn from its listing of Global Depository Receipts, becoming just the second company to use the London-Shanghai Stock Connect scheme.
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Europe’s corporate bond market burst into life on Tuesday with more than 10 primary deals on screens, as the US Federal Reserve’s plans to buy individual bonds brushed aside fears of a resurgence of Covid-19.
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La Mondiale took advantage of a sudden improvement in market conditions this week to strengthen its capital structure with the sale of a new tier two. The French insurer was able to launch its deal 5bp through fair value.
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Hygeia Healthcare Holdings has kicked off the roadshow for its up to HK$2.22bn ($286.4m) IPO, joining Hong Kong’s increasingly hot listing market.
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Kangji Medical Holdings kicked off bookbuilding for its Hong Kong listing on Monday, aiming to raise up to HK$3.12bn ($404m) in proceeds.
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The Africa Finance Corp, the Nigeria-headquartered multilateral development bank, has issued its first Eurobond of 2020, winning three times oversubscription.
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China’s Simcere Pharmaceutical Group is seeking the green light to float on Hong Kong’s stock exchange after filing a listing application with the bourse.
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Conditions in the financial institutions bond market worsened this week but plenty of senior and subordinated bonds still got away. With credit spreads unpredictable, the supply outlook remains favourable, said bankers.
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Nationwide Building Society was able to tighten pricing by 50bp on the sale of an additional tier one bond on Wednesday, landing at a 5.75% coupon. The new issue will increase the bank’s leverage ratio, which went down last year amid a net redemption of tier one debt.
