Losing an underwriting slot at the last minute on one US$10bn-plus sovereign bond deal is bad enough, but losing two is nothing less than a disaster.
China’s first high-profile “new economy” IPO since regulators unveiled plans to attract more technology listings underscores the challenges of going public in the domestic market.
The five largest US banks rode a wave of volatility to a record setting haul in equity trading in the first quarter, reaping a combined US$9.5bn of revenue, up 34% from the year before.
Goldman Sachs, JP Morgan and Morgan Stanley are in line to lead a financing in excess of €1bn to back private equity firm Advent International’s acquisition of European generic drugs company Zentiva, as other banks vie to win a spot on the aggressive deal, undeterred by its high leverage.
Investors holding billions of dollars in defaulted Venezuelan bonds have formed at least one bondholder committee that is seeking a financial adviser, several sources said, in a sign they may be gearing up for a legal dispute.
The US unit of French insurer AXA raised US$3.8bn from a three-part debut bond last week that lays the groundwork for a NYSE IPO that could end up as the largest US listing of the year.
E-signature company DocuSign last week launched a US$560m IPO that joins a robust calendar of US cloud computing deals seeking to exploit hefty valuations in the sector.
Chinese issuers are increasingly targeting global investors for domestic bond offerings, as they look to take advantage of growing demand for onshore renminbi securities to broaden their investor relationships.
Lenders to Rusal are exploring how to get rid of their exposure to Russian aluminium company before a May deadline set by the US, as the fallout from fresh US sanctions pulls Russian loan pricing lower in Europe’s secondary market.
AT&T cancelled the IPO of its Latin America and Caribbean pay TV unit Vrio last week rather than accept a deeply discounted valuation.