E.ON is being paid to issue debt after securing a negative yield on bonds exchangeable into Swiss energy company BKW.
A US$200m convertible bond from engineering conglomerate Larsen & Toubro reopened the Indian equity-linked market last Monday, only to promptly close it again after the deal failed to clear.
Close to half of German incubator Rocket Internet’s Entry Standard IPO in Frankfurt could go to cornerstone investors. A group of six investors will inject €582.5m into the all-primary float, which is set to raise €1.169bn–€1.4bn.
The IPO of Citizens Financial Group brought in just US$3bn for the Royal Bank of Scotland last week – at least US$500m less than envisaged when the deal to sell a 25% stake launched.
Citigroup came out fighting last week as it prepared to meet US District Court Judge Thomas Griesa again on Friday in what might have been its last chance to keep its Argentina franchise intact ahead of a September 30 coupon payment on US dollar-denominated local-law bonds.
The European market was gifted another jumbo acquisition loan last week with German drugs and chemicals maker Merck’s US$15.6bn financing, bringing the total amount of M&A lending agreed since the beginning of September to US$48bn.
The missing CEO of embattled German-listed PRC shoemaker Ultrasonic has resurfaced in China to deny absconding with millions of dollars of company money, telling local media he had been travelling and lost his mobile phone.