Morgan Stanley

Turkey raised a dollar bond on Tuesday, pricing $2.25bn of 10 year funding flat to its curve, demonstrating that investors believe it is recovering after a period of financial peril.

Less than a week after Turkey made a long desired increase in interest rates hike, the sovereign has returned to the bond market for a last gasp bond deal before the market starts to run down for the year. The situation is giving market insiders confidence that Turkey is returning to orthodox policy making.

Peru grabbed the bond market’s attention on Monday with a $4bn triple-tranche issue including a 100 year bond despite the country being on its third president this month. But the country’s public treasury director said it was the all-in yield, not the desire to make headlines, that drove Peru to become the fourth Latin American borrower ever to sell a century bond.

Banks were busy issuing sub-benchmark sized deals in the euro public market last week, prompting several issuers to follow suit in the MTN market.

Chinese cosmetics company Yatsen Holdings saw its shares spike 75% on their New York Stock Exchange debut on Thursday, after the firm priced its IPO at the top of the marketed range.

Chinese housing-related platform operator Ke Holdings has raised $2.05bn from a fresh follow-on offering of its New York-listed shares, returning to the equity market less than three months after its IPO.

UK aerospace company Rolls-Royce managed a smooth landing for its mid-pandemic equity raise despite turbulence within its inner circle of advisers. It was a triumph for strong management, writes David Rothnie.

An accounting standard was launched on Wednesday that could prove a major step forward in how banks and investors calculate their contributions to climate change, and their progress towards net zero emissions.

Permanent TSB attracted plenty of demand for a new additional tier one (AT1) note on Monday, with a lack of issuance in the asset class sending investors towards names offering higher yields.

Qatar National Bank, by assets the largest bank in the Middle East and North Africa, has raised a dual tranche $3.5bn syndicated loan, one of the largest emerging market loans signed this year.

South African pulp and paper company Sappi has tapped the equity-linked market for financing with a new five-year R1.8bn ($120m) convertible bond.

Central China Real Estate paid up for its $300m return to the bond market on Tuesday, navigating weaker investor sentiment to get its deal over the finish line.