Morgan Stanley has muscled in on a €725m ($806m) convertible bond from Infineon, the German semiconductor manufacturer, as joint bookrunner with Goldman Sachs.

Goldman Sachs has a long-standing relationship with Infineon. The US bank jointly led Infineon's €6.1bn initial public offering in March 2000 with Deutsche Bank, and in 2001 it was the sole bookrunner of Infineon's €1.5bn follow-on offering.