Morgan Stanley

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.

AusNet Services, the Australian power networks company, and Italian power company Enel earned rapturous responses from investors for euro hybrid capital bond issues this week, even though the trades followed a sell-off in riskier assets.

Mamoura Diversified Global Holding, an Abu Dhabi sovereign investment vehicle, launched a euro bond on Thursday. Issuers with access to and a need for both currencies, investors said, will find a haven in the euro market while volatility in dollar yields continues.

Europe’s high grade corporate investors had their pick of US risk on Wednesday, with a trio of names raising €5.2bn of debt across seven tranches.

Enel, the Italian power and gas company, proved that demand still exists in euros for chunky hybrid debt with a €2.2bn dual tranche deal on Wednesday that saw more than three times oversubscription at peak demand and offered no new issue concession.

Fixed income investors will have a chance to pick up unrated sustainable corporate bonds this week, as Belgian private equity firm Gimv has mandated banks.