Fresh from settling a three-year plus battle over its future, Sika secured SFr1.65bn (US$1.65bn) from an upsized seven-year convertible bond through sole bookrunner UBS with a conversion premium set 36% above its all-time high share price.
Two Chinese bitcoin mining equipment makers are set to test equity investors’ faith in the cryptocurrency’s long-term future, with plans to raise up to US$1bn each in the world’s largest bitcoin-focused IPOs to-date.
Morgan Stanley and its buyside clients won a stunning reprieve late on Thursday when sponsor-backed contract research company IQVIA and selling shareholders agreed to unwind a US$1.02bn block trade.
The planned Shanghai IPO of Foxconn Industrial Internet is emerging as an important template in China’s push to attract more listings from the world’s biggest technology companies.
Italian government debt, which until last week had shown remarkable resilience in the face of uncertain politics, lost its footing as the prospect of an alliance between the country’s two anti-establishment parties became a reality.
The launch of MiFID II trading rules four months ago has not wreaked havoc on Europe’s markets in the way doom-mongers warned, but it is causing a subtle and significant shake-up in equities trading and research.
Banks are increasingly wary of lending to the UK retail sector as shoppers continue to desert the high street in favour of lower cost online rivals, raising the prospect of further loan losses.
Russian companies are facing months of being shut out of global capital markets, as investors continue to digest the latest round of sanctions against the country introduced last month.
Dozens more Chinese companies are lining up to sell offshore bonds, adding to the pressure on a market already buckling under the weight of supply.
The European high-grade bond market got a jolt on Thursday after Bertelsmann pulled a new issue in what may be a warning that borrowers need to respect the shift in pricing power to investors.