Turkey’s deepening financial crisis is threatening efforts by its banks to refinance existing syndicated loans as financial institutions bear the brunt of the plunging lira and political turmoil.
Signs of contagion from Turkey’s deepening financial crisis flickered last week, though the emerging markets largely withstood worries of a widespread sell-off.
Chinese electric vehicle maker Nio kicked off a US$1.8bn New York listing last week, pressing ahead with plans to go public even as the founder of US peer Tesla was drawing up plans to go private.
A multi-year investigation by US regulators into the role that big banks played in creating toxic mortgage securities nearly a decade ago is now drawing to a close.
KKR’s growing capital markets arm sent another shot across the bow of Wall Street banks by collecting the biggest share of the underwriting fees on Monday night’s US$1.52bn sell-down of a portion of the private equity firm’s stake in payments processor First Data.
A state-run organisation tasked with defending China’s western border missed a payment on Rmb500m (US$72m) of onshore notes last week, triggering arguably the first bond default from a local government financing vehicle.
Goldman Sachs has made a significant further investment in a provider of blockchain technology for use in the capital markets. The investment bank led a US$32m financing round with US fintech investor Nyca Partners in Axoni. Goldman representative Ashwin Gupta will join the company’s board.
Activist investor Clifden’s attempt to raid Fairhold Securitisation suffered a comprehensive defeat in the High Court after its purported appointment of administrators was declared void and injunctions granted to prevent it or its director, Rizwan Hussain, from taking any further similar action without a court order and 72 hours’ notice.