Friday, 17 August 2018

Top News

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  • Apple

    Apple issues to dwarf those of rivals

    Apple could go from being the only major technology company with no debt on its books to one that issues as many bonds as a major global bank, as it seeks to fund its US$100bn capital reward for shareholders unveiled last Tuesday.

  • China

    Asian bond sales smash 2013 record

    By Lianting Tu

    With more than a quarter of 2014 remaining, Asian issuers have already sold more bonds in US dollars, euros and yen this year than ever before, taking advantage of easy monetary policies to lock in financing at low fixed rates.

  • Euro and US dollar notes

    Avantor debt gets more costly

    Wary bond investors forced Avantor to pay much more than it wanted and agreed to tighter covenants to fund its hotly debated US$6.4bn takeover of much larger rival VWR International.

  • Samurai

    Basis swaps raise Samurai tide

    The recent improvement in cross-currency basis swaps is benefiting both yen issuers and investors as foreign borrowers are able to offer relatively juicy spreads while still matching their funding costs in their home currencies.

  • Bendigo and Adelaide

    Bendigo keeps faith with RMBS

    Bendigo and Adelaide Bank continued the recent run of Australian residential mortgage securitisations with an enlarged A$750m (US$784m) transaction on October 28, playing down concerns that the RMBS market will be crowded out now that Australian banks are finally able to issue covered bonds.

  • A Bombardier plant in Montreal

    Bombardier turnaround requires US$500m equity plug

    Bombardier’s move to secure C$638.4m (US$500m) overnight on Tuesday through a stock sale marked a tactical strike in the long-running turnaround of the iconic Canadian aircraft and train maker.

  • Estate RMBS

    Buyside warms up to CRE CLOs

    Commercial real estate CLOs appear to be the next hot thing in the CMBS market, as borrowers seek new ways to fund the revamp of offices, hotels and malls that have fallen on hard times.

  • HK

    CGN to power year-end IPO frenzy

    CGN Power, China’s largest nuclear energy producer, is so confident of securing orders for its US$3bn Hong Kong IPO that it has limited most of its bookrunners from pre-marketing the deal.

  • Dell

    Discount lingers after Dell's US$22bn buyout

    Privately held IT company Dell Technologies will simplify its corporate structure and secure an NYSE listing by buying out its VMware tracking stock in a US$21.7bn cash-and-stock deal, though doubts linger as to whether investors will back the deal.

  • BES

    Espirito Santo debacle hits Portugal

    By Aimee Donnellan, Robert Smith

    Portuguese sovereign, corporate and bank bonds came under more pressure last week as the negative spiral surrounding the Espirito Santo Group prompted investors to retreat from the country’s debt.

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