Morgan Stanley
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Office owners and operators found a warm reception in the high grade corporate bond market this week, with investors and analysts growing increasingly bullish on the sector despite the risks it faces. -
China’s Full Truck Alliance, an Uber-like service for trucks, launched an IPO on the New York Stock Exchange this week. It is aiming to raise up to $1.56bn.
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There was little let-up in demand for property companies' bonds on Tuesday, as investors stocked up on Inmobilaria Colonial and debut issuer Sirius Real Estate, before the void of issuance expected from the tail end of this week.
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The European Union generated a blowout reception for its debut bond under the €800bn Next Generation EU (NGEU) programme on Tuesday, although it paid a sizeable new issue premium of 4bp-5bp according to senior bankers away from the deal.
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LinkDoc Technology, a cancer-focused medical data company, has filed paperwork for a $100m offering of American depository shares (ADS).
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The European Union announced the mandate for the inaugural bond for its €800bn Next Generation EU (NGEU) scheme on Monday morning as the European Commission ruled on prohibiting banks which have been found guilty of breaching anti-trust rules from appearing on syndications for the programme.
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Piraeus Bank showed the depth of investor demand for high-yielding bank debt this week when it brought the first additional tier one (AT1) out of Greece with one of lowest ratings ever seen in the market. Greek banks are now expected to turn their attention to the minimum requirements for own funds and eligible liabilities (MREL), where green labels and sustainability-linked structures could help them achieve their goals.
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South Korea's KEB Hana Bank found a stronger response than expected for its sustainability bond this week, allowing it to raise $600m.
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Piraeus Bank has become the first Greek issuer of additional tier one (AT1) capital, finding enough demand this week to launch a CCC rated deal with a coupon below 9%.
