Saturday, 16 December 2017

Top News

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  • South Korean flags

    South Korean issuers seize brief dollar window

    Three South Korean issuers made their way back to the offshore bond market last week during a lull in tensions between the US and North Korea, before a missile launch on Friday renewed political concerns.

  • Dana Gas

    Dana Gas dispute enters next stage

    The next episode of a legal dispute between Dana Gas and its creditors is set to take place in London this week in a case that will hold the attention of all involved in the sukuk market.

  • Bahraini flag

    Yield propels Bahrain to jumbo deal

    Anxieties about a weak credit, a format under threat and a bitter regional dispute all melted away in the face of a decent yield, as Bahrain sold a US$3bn deal last Wednesday. The deal was more than five times subscribed.

  • Heavy wind is seen along Ocean Drive in South Beach as Hurricane Irma arrives at south Florida, in Miami

    Miami ABS meeting shrugs off storm chaos

    After much debate, the ABS East conference in Miami starting on Sunday will forge ahead, bringing thousands of structured finance pros to Florida after Hurricane Irma.

  • SoFi logo

    SoFi, so popular, hits bump in road

    Market darling SoFi had to kowtow to the buyside last week, beefing up spreads after the social lender’s founder announced he was stepping down in the wake of a sex harassment scandal.

  • Workday logo

    Workday prices tight and right

    Workday’s US$1bn convertible bond secured the most aggressive pairing of coupon and premium in the US since a deal from Twitter back in 2014.

  • Noble Group logo

    Noble CDS holders still in limbo

    Holders of Noble Group credit default swaps were left dangling for another week after ISDA’s determinations committee again failed to reach a conclusion over whether an extension of the issuer’s US$2.03bn loan constitutes a credit event.

  • Goldman Sachs sign

    Goldman lifts the hood and finds US$5bn

    Goldman Sachs sought to reassure investors that it can find new growth opportunities and said last week it would increase annual revenues by at least US$5bn by filling client gaps in fixed income, ramping up its new consumer bank and other measures.

  • Norske Skog sign

    Top creditors stitch up Norske Skog

    The drawn-out restructuring of Norske Skog took an unexpected twist last week. Senior secured creditors demanded immediate repayment of their €290m debt, despite previously pledging an emergency loan of €16m to keep the world’s second largest newsprint producer afloat.

  • First Data logo

    KKR makes US$1.5bn dent in First Data stake

    KKR made an auspicious start to the potentially long-winded process of selling its stake in payments processor First Data, a difficult pre-crisis leverage buyout that has finally begun to bear fruit for the private equity firm.