US regulators said they are open to revising restrictions on leveraged lending, offering an olive branch to a Republican-controlled Congress keen to roll back banking regulations.
US drugstore operator CVS Health Corp has lined up US$49bn of loans to back its US$69bn acquisition of health insurer Aetna, supporting the largest corporate merger of the year with the second biggest US acquisition financing on record.
The Republic of Indonesia capped its return to full investment-grade status with a strong US response to last Monday’s US$4bn Global offering, its first SEC-registered bond issue in more than 20 years.
Banks that financed Steinhoff International’s rapid expansion have been left gauging their exposure – both financial and legal – to the South African retailer after “new information” emerged relating to possible accounting irregularities.
Holiday leave has been cancelled and hundreds of technology and compliance staff are set for a busy holiday period in Europe as banks rush to prepare systems for MiFID II, one of the biggest overhauls of trading ever seen.
Chinese online wealth management and peer-to-peer lending company Lufax has set the ball rolling on a Hong Kong IPO that could raise US$3bn–$5bn, even as China takes steps to crack down on consumer finance.
Freddie Mac has sold its first ever securitisation of mortgages from the HARP relief programme that helped underwater borrowers stay in their homes after the financial crisis.
Bank lenders to European leveraged loans are increasingly rejecting deals due to aggressive pricing and documentation, but are being quickly replaced by institutional investors targeting higher-yielding term loan B paper.
The junk bond market is ending the year on a frantic note with some 25 different issuers from both sides of the Atlantic jumping into the primary last week after a brief spell of weakness a month back.
Attempts to extend capital markets funding to small and mid-cap firms took a step closer to reality last week as a new European private placement platform aimed at low-cost bond issuance completed its first deal, a €1m two-week commercial paper transaction for DZ Bank via ABN AMRO and DZ Bank.