Morgan Stanley

Genscript Biotech Corp is planning to spin-off and list subsidiary Legend Biotech Corp in a potential $100m Nasdaq IPO. The firm submitted listing documents to the US regulator on Wednesday.

The Republic of Finland had to share its return to dollar market on Wednesday with a trio of three year SSA deals. Demand for dollar SSA bonds has been strong this week, and with mandates out for five and seven year deals,issuers are still looking to take advantage

Network Homes is looking for US private placements, according to several market sources. The London housing association is the first of its type to return to the market after a string of prospective PPs were suspended during the initial peak of the pandemic crisis. Sources expect these postponed deals to return shortly.

REC became the first Indian issuer in two months to hit the international bond market, raising $500m on Tuesday. While the deal was a success, it also shed some light on the restrictions and challenges being faced by the country’s issuers amid the Covid-19 pandemic.

Zhongsheng Group Holdings has pulled off a HK$4.56bn ($588.3m) convertible bond and repurchase of an outstanding CB, increasing the deal size on the back of demand from existing bondholders.

GAC-Sofinco Auto Finance priced a Rmb4bn ($564m) four-tranche auto loan ABS offering on Tuesday. The senior class A1 and A2 tranches were both sealed at coupons below 2%, setting a new record for Chinese auto ABS issuers.

Zhongsheng Group Holdings is issuing a HK$3.88bn ($500m) zero-coupon convertible bond to fund the repurchase of an outstanding CB.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.

Mining company Indonesia Asahan Aluminium (Inalum) battled weakening fundamentals and financial troubles at its state-owned peers to raise $2.5bn from a triple-tranche bond on Monday.

Peijia Medical bagged HK$2.34bn ($302m) from its IPO after winning huge support from institutional and retail investors, according to a source close to the deal.

Chinese hotel company Huazhu Group has returned to the equity-linked market, raising $450m from a bond convertible into its American Depository Shares (ADS).

The UK Debt Management Office has picked the banks to lead the sale of its new October 2061 conventional Gilt, which will be its second of an unprecedented two syndications in a single calendar month.