The first US$10bn chunk of pro rata loans in a US$45bn financing package backing computer giant Dell’s purchase of data storage products maker EMC Corp is testing banks’ appetite for funded US dollar assets before tapping the institutional loan and high-yield bond markets.
National Australia Bank breathed life into Europe’s 2016 IPO market last week, floating Clydesdale and Yorkshire Banking Group with a market capitalisation of £1.583bn. CMC Markets followed a couple of days later, with four more European pricings due this week.
Further losses linked to non-core assets at UBS, Credit Suisse and Deutsche Bank revealed over recent days – with more expected at Barclays when it updates the market next month ...
China’s largest chemical company is initially funding the deal entirely with debt through a mixture of recourse and non-recourse facilities, leveraging both its own balance sheet and that of its target.
Nervous HY investors shun complex transaction and long duration
Last Monday, the state-run Xinhua News Agency reported that Ezubo, a peer-to-peer lending company in Anhui, had conned investors out of over Rmb50bn (US$7.61bn) through a Ponzi scheme.
Investors are facing a conundrum if Russia decides to push ahead with plans to print a Eurobond this year, as bond market experts say that the money raised can be used to bypass Western financial sanctions on Russian companies.
The Italian Republic priced a €9bn 2.70% 30-year benchmark on Tuesday that was lauded by bankers and underlines the extent to which the European Central Bank is able to allay market concerns around Italy in particular and the global economy in general.
Colombia is preparing to tap the bond markets at a rough time, as a slide in oil prices has dented its fiscal accounts and is threatening the oil exporting nation’s credit standing.
Leveraged finance bankers are chipping away at an up-to-US$30bn pipeline of high-yield bond sales at the fastest pace so far this year, but lower-rated credits remain a tough sell.