Computer giant Dell raised US$20bn through a six-tranche bond last week, completing the most critical part of an estimated US$41bn debt financing for its acquisition of EMC.
State oil company Petrobras last week became the first borrower from Brazil to sell foreign debt since June 2015 when it printed a US$6.75bn dual-tranche bond, but investors were left bemoaning its poor secondary market performance.
Citigroup told US regulators it was not willing to support troubled Lending Club after the marketplace lender’s CEO stepped down following a botched sale of loans.
Elon Musk’s Tesla Motors scored US$1.4bn from a sale of 6.5m shares last week that will help fund hyper-aggressive production targets for its new mass-market electric car. But the deal, Tesla’s largest since its IPO in 2010, was not without controversy.
At least four more law firms may be lining up to sue a group of five banks for alleged collusion in bond trading, following a lawsuit brought by a US pension fund last week.
The steady drumbeat of bad news at Areva has made its bonds a target for short-sellers, which believe the worsening situation will hamstring the French government’s efforts to rescue the nuclear group.
Dutch issuance has dominated the European ECM pipeline so far in the second quarter, providing some of the year’s largest and highest-profile deals, yet activity in the rest of the region remains muted.
The Panda bond market, part of China’s drive to open its domestic capital markets by encouraging foreign issuers to raise onshore renminbi, may finally be on the verge of serving its intended purpose after a long period when deals have mostly been done for publicity reasons.
The latest giant acquisition financing for a state-owned Chinese borrower is struggling in syndication, underlining the reluctance of global lenders to support China’s overseas ambitions.
The Italian Republic raised eyebrows last week by bringing a syndicated inflation-linked bond to the market at time when expectations for growth and inflation in the eurozone are ebbing.