Financial News Lauds Morgan Stanley with Quarterly Honors
Financial News recognized Morgan Stanley in its July 18 edition, awarding it top honors as the Bank of the Quarter.
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Financial News recognized Morgan Stanley in its July 18 edition, awarding it top honors as the Bank of the Quarter. The Firm also appeared in the Equity Capital Markets Deal of the Quarter for its work on the Neste Oil offering.
Morgan Stanley figured in eight of Europe's 10 largest M&A transactions, with more on the way. As the paper noted, "The bank's stellar performance in M&A was mirrored in European initial public offerings, where Morgan Stanley pipped Credit Suisse First Boston to the top ranking after a string of successes in the UK and Russia." Noteworthy IPOs included Inmarsat (US$670mn) and Pyaterochka ($598mn). On the debt side, the 8bn ($9.7bn) German Postal Pensions securitization was also cited.
But the ECM deal that the editors took most notice of belonged to Neste Oil. "Finland's Neste Oil stands out as the first European initial public offering to raise its book building price in five years," the Financial News reported. "It was also the country's largest IPO for seven years and one of the most innovative." Morgan Stanley served as global coordinator and joint book runner on the 577mn ($748mn) offer.
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