Chipmaker Broadcom’s US$100bn loan package backing its proposed US$121bn acquisition of Qualcomm will become the biggest-ever syndicated loan globally if the hostile deal goes ahead.
More banks are poised to join the US$15bn financing backing US private equity firm Blackstone Group’s acquisition of a majority stake in Thomson Reuters’s Financial and Risk unit. The financing is made up of US$14bn of bonds and loans, and a separate US$1bn payment-in-kind note.
Egypt and Nigeria proved that markets remain open for jumbo bonds from emerging markets issuers - but at a price.
Banks have lined up approximately US$2.5bn-equivalent of leveraged loans to back UK petrol station operator EG Group’s acquisition of US grocery chain Kroger’s convenience store unit.
State-owned STLC last week became the first Russian borrower to pull a bond deal in nearly five years, leading to concerns about the strength of the local demand that underpins issuance from the country.
US life insurers are worried about a sudden drop in issuance of long-duration high-grade corporate bonds after the Trump administration’s tax cuts made it less appealing for companies to issue long duration debt.
Foxconn Industrial Internet, the mainland unit of Taiwan’s Foxconn, has applied for a Shanghai IPO that could set a milestone in China’s ability to attract major listings from the fast-growing technology sector.
For large multinational corporations in need of cash, issuing debt in the US market was, until recently, a no-brainer.
It was another week of mixed results for European IPOs, with a successful completion of German homebuilder Instone Real Estate’s €437.5m IPO - though it then traded down - and cancellation of France’s Novares on its second attempt to float.