The US$1.2bn NYSE IPO of Tencent Music Entertainment, China’s largest music-streaming company, has built early momentum despite challenging market conditions and a price range that puts it at a premium to global peer Spotify Technology.
Ride-sharing service Lyft could beat its arch-rival Uber Technologies to a listing, having revealed it has filed confidentially with the US Securities and Exchange Commission for what will be one of the first large “unicorn” IPOs of 2019.
The Republic of Indonesia moved quickly last week to sell a US$3bn three-tranche bond issue in a brief market window, underlining its access to long-term capital after a year of emerging market jitters.
The launch of the long-awaited Shanghai-London Stock Connect scheme has been delayed by unspecified technical issues, dealing a setback to China’s ambitions to connect to the world’s financial markets.
The UK government shrugged off criticism that its student loan sales do not provide value for money to taxpayers when it last week priced the second deal from a securitisation programme designed to raise £15bn by 2023.
UK cinema chain Vue scrapped a £833m-equivalent loan last Thursday as Brexit jitters impacted on the European leveraged finance market just days before UK parliamentarians are set to vote on Theresa May’s Brexit deal.
Industrial giant General Electric faces a challenging 2019 as it looks to sell assets to reduce its massive debt load and salvage its investment-grade ratings.
Huawei Technologies’ US dollar bonds slumped to record lows last week on news that the company’s chief financial officer was arrested in Canada and is facing extradition to the United States on suspicion of violating US sanctions.
The arrest in Canada of Huawei Technologies‘ CFO at the request of US authorities has curbed Japanese lenders’ appetite for the company’s debut Samurai loan, potentially hurting future deals from Chinese borrowers.
The European Commission has urged banks and businesses to reduce their use of the US dollar as a means of payments, as it seeks to boost the role of the euro amid an ongoing confrontation with the US over its unilateral imposition of sanctions against Iran.