Thursday, 24 January 2019

Top News

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  • UBS chief executive Andrea Orcel leaves after attending a UK parliamentary inquiry into Libor rates

    Orcel in limbo after shock Santander U-turn

    Santander’s attempt to poach star UBS investment bank chief Andrea Orcel to be its next CEO ended in farce last week when the Spanish bank balked at paying €50m to buy out share awards he was due.

  • Energizer

    Energizer shrinks equity raising to US$375m

    Energizer Holdings approached its equity raising with a view that its stock is undervalued and underappreciated.

  • The President and CEO of Ford Motor Company Hackett shakes hands with Volkswagen CEO Diess

    Driverless financing plans accelerate

    Automakers are accelerating plans to adapt their business models to cope with the widespread adoption of autonomous and electric vehicles that could take place over the next decade.

  • A worker counts U.S. dollar bills at a money changer in Manila

    Asian bonds defy early gloom

    Chinese property deals have accounted for nearly half of the US$6.9bn sales of Asian bonds, excluding Japan and Australia, in the year so far, as issuers have taken advantage of improved market conditions. While the volatility that took hold in Asian credit markets last year looks set to continue into 2019, the year has begun with enough momentum to raise hopes that issuance volumes could nevertheless resume climbing.

  • An India Rupee note is seen in this illustration photo.

    SBI faces higher fees for QIP

    Banks have asked for unusually high fees from a public-sector issuer to underwrite State Bank of India’s up to Rs200bn (US$2.9bn) qualified institutional placement in view of current market volatility.

  • ADB reaps Green rewards

    ADB reaps Green rewards

    The Asian Development Bank smashed Green Kangaroo bond records last Tuesday, with a debut A$1bn (US$713m) five-year sale that underlines the benefits of placing socially responsible labels on new issues Down Under.

  • Anta Sports kicks off China M&A

    Anta Sports kicks off China M&A for 2019

    Anta Sports Products has launched syndication of a five-year €2.2bn loan with a foreign bank-dominated arranger group, demonstrating that sentiment among international lenders remains strong for Chinese privately owned enterprises despite the trade war between the US and China.

  • Yapi Kredi branch

    Yapi breaks Turkish bank drought with bespoke AT1 bond

    The first test of appetite for Turkish bank risk since April 2018 went without a hitch as Yapi Kredi priced the first public US dollar AT1 offering from the sector, although the deal’s structure meant a large chunk of the fundraising was guaranteed before books were opened.

  • Saudi Arabian flag

    Investors look beyond Khashoggi on Saudi return

    The spectre of Jamal Khashoggi’s murder just three months ago failed to impede Saudi Arabia’s return to the international bond market as investors looked past the assassination to get fully behind the deal.

  • Securities and Exchange Commission logo

    US shutdown puts IPOs in deep freeze

    With the US government shutdown extending into its fourth week, investment banks are facing the increasing likelihood of a January without a single corporate IPO pricing.