Monday, 23 July 2018

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  • A man uses a cash dispenser at a Santander branch next to a Banco Popular branch in Madrid

    Santander pressed by Pimco over Popular deal

    Two major holders of Banco Popular junior bonds that were wiped out ahead of the Spanish lender’s sale to Santander last June have filed an application in a New York court seeking information from Santander about the decisions that led to Popular’s resolution.

  • Banks take hit on struggling junk deals

    Banks take hit on struggling junk deals

    Investors pushed back hard against two acquisition junk bonds in the US last week, forcing banks to take losses and sell the deals at steep discounts to get them over the line.

  • Qatar flag

    Qatar hopes to leave troubles behind

    Qatar believes that investors will see past a bitter regional dispute in order to get their hands on the sovereign’s first bond since a spat with the country’s Gulf neighbours erupted last year.

  • Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S.

    Market jitters hurt Asia IPOs

    Sell-offs across global equities have dented investor sentiment for IPOs out of Asia, forcing issuers to compromise on valuations and leave some deals undersubscribed.

  • Researchers work at a laboratory of WuXi AppTec (Shanghai) Co., Ltd. in Shanghai, China.

    WuXi AppTec to relist via IPO

    WuXi AppTec is set to become the first Chinese company in recent years to relist in the A-share market through an IPO after being delisted from an overseas bourse, in a further push from regulators to attract listings from the “new economy”.

  • Daimler's Chief Executive Dieter Zetsche attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China.

    Issuers target Dim Sum savings

    Two past Panda bond issuers tapped the offshore renminbi market for the first time last week, adding to a growing list of borrowers who have been drawn to the Dim Sum market by attractive pricing.

  • AkzoNobel's logo is seen in Amsterdam

    Jumbo deal for Akzo Nobel unit LBO

    Banks have lined up as much as €7.3bn-equivalent of debt to back the buyout of Akzo Nobel’s chemicals business, the latest jumbo cross-border leveraged financing to hit the loan and bond markets.

  • Spotify

    Spotify releases numbers before direct listing

    Spotify Technology has announced it expects to grow revenue by as much as 30% and narrow losses in 2018, as it gears up for its direct listing this week on the New York Stock Exchange.

  • Bahraini flag

    Bahrain's bargain basement sukuk

    Bahrain’s trade wilted under pressure from investors last week as the sovereign was forced to revise a potential triple-tranche bond offering by ditching the conventional tranches for a single Islamic note issue, which then came at a huge pick up over its outstanding sukuk.

  • Tesla logo

    Tesla stumbles as markets face reality

    Tesla got battered in the markets last week, as its stocks and bonds plunged on negative news that deepened questions about how the cash-burning company will raise the funding to keep going.