The scramble for lead roles on a US$10bn Hong Kong listing from China’s telecoms sector is turning the spotlight on fees in the city’s ultra-competitive IPO market.
The Irish government’s attempt to sell shares in bailed out Allied Irish Banks is being hampered by an argument over the inclusion of deferred tax assets - where past losses can offset future tax liabilities - in its valuation.
The future of the sukuk market was thrown into doubt last week after Dana Gas claimed its US$700m of outstanding Islamic bonds are no longer sharia-compliant and are therefore “unlawful”.
The People’s Republic of China sent market participants into a guessing game last week over the motives behind its plan to sell US dollar bonds overseas for the first time in 13 years.
Credit default swaps referencing Banco Popular subordinated debt are set to trigger following the bank’s resolution, helping to restore confidence in an updated set of CDS definitions that were intended to improve protection in the event of government-led restructurings.
In a sign of just how frothy markets are getting Belarus announced a comeback mandate last week, which will test the resolve of investors as they weigh up the opportunity to get yield against the reputational risks involved with such a deal.
French/Israeli cable mogul Patrick Drahi is pushing ahead with the US$1.4bn NYSE IPO of Altice USA with the ruthless efficiency for which he has become famous.
Amazon’s shock decision to buy upscale grocery chain Whole Foods delivered another dose of pain to US retail, which was already one of the most problematic sectors of the year so far.
The US$483trn global over-the-counter derivatives market could be set to splinter along regional lines, sapping liquidity and raising costs for end-users if Europe follows through on new proposals that could force euro-denominated swaps clearing to locate within the bloc.
The Dominican Republic turned heads in the Latin America bond markets last week by mandating a trio of underwriters not typically seen leading public sovereign deals from the region.