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China issuers warm to Bond Connect
Chinese issuers are increasingly targeting global investors for domestic bond offerings, as they look to take advantage of growing demand for onshore renminbi securities to broaden their investor relationships.
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WuXi AppTec's IPO to raise just Rmb2.25bn as China's tech push meets A-share valuation cap
China’s first high-profile “new economy” IPO since regulators unveiled plans to attract more technology listings underscores the challenges of going public in the domestic market.
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Kestrel coal M&A loan fires up lenders
Australia’s EMR Capital and Indonesia’s top coal producer Adaro Energy are borrowing US$2.1bn in underwritten loans to acquire Rio Tinto’s Kestrel coking coal mine in Queensland, underscoring strong lender appetite for good quality coking coal assets.
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Banks assess Rusal options
Lenders to Rusal are exploring how to get rid of their exposure to Russian aluminium company before a May deadline set by the US, as the fallout from fresh US sanctions pulls Russian loan pricing lower in Europe’s secondary market.
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Mizuho missed Saudi and Qatar bonds after forgetting to pick a side
Losing an underwriting slot at the last minute on one US$10bn-plus sovereign bond deal is bad enough, but losing two is nothing less than a disaster.
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High finance helps hype art sales
Art prices have been hitting record highs in recent years, helped in part by dealers and financially savvy collectors making use of financing techniques more commonly seen at investment banks, such as futures trading and asset-backed lending.
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Lenders make a beeline for €1bn-plus Zentiva financing
Goldman Sachs, JP Morgan and Morgan Stanley are in line to lead a financing in excess of €1bn to back private equity firm Advent International’s acquisition of European generic drugs company Zentiva, as other banks vie to win a spot on the aggressive deal, undeterred by its high leverage.
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AT&T disconnects spin-off of LatAm pay TV unit
AT&T cancelled the IPO of its Latin America and Caribbean pay TV unit Vrio last week rather than accept a deeply discounted valuation.
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US$560m DocuSign deal heads tech IPO queue
E-signature company DocuSign last week launched a US$560m IPO that joins a robust calendar of US cloud computing deals seeking to exploit hefty valuations in the sector.
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Right kind of volatility: equity trading surge saves first quarter for US banks
The five largest US banks rode a wave of volatility to a record setting haul in equity trading in the first quarter, reaping a combined US$9.5bn of revenue, up 34% from the year before.
