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Wednesday, 13 December 2017

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  • Blockchain bonds expected in September

    Europe’s first blockchain-powered public bond issue is being prepared for a September launch by start-up digital asset platform BlockEx.

  • Energy Transfer takes US$1bn equity dip

    Energy Transfer Partners, one of the largest publicly traded master limited partnerships, swallowed a bitter pill as it secured US$1bn in an overnight stock sale on Monday. The cash infusion cures the pipeline operator’s funding needs until the middle of next year, but pricing was painful

  • Air France plane passes Air Berlin plane during take-off at Tegel Airport in Berlin

    CB investors take Air Berlin parachute

    Former convertible bondholders were proved right last week when Etihad Airways finally stopped propping up Air Berlin and the airline filed for insolvency. The German low-cost carrier had tried in February to keep convertible investors from exercising a put on 2019 paper by ramping up the coupon and slashing the premium in an exchange, but investors rejected the notion.

  • Delay sought on MiFID II swaps trading rules

    Investors have called for a delay to European rules that will force the most liquid over-the-counter derivatives to be traded over exchange-like platforms from January.

  • Novo Banco logo

    Novo Banco offer unchanged by high deposit rates

    Novo Banco’s publication of the above average rates it will pay on deposits resulting from its liability management exercise targeting €8.37bn of bonds in the nationalised Portuguese bank do not materially change the economics of the offer.

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

    Popular bondholders seek to turn back time

    A group of bondholders in Banco Popular have filed challenges to European regulatory decisions that put the Spanish bank in resolution on June 7 and led to

  • An employee works at a factory of Dongbei Special Steel Group Co

    Dongbei hammers out restructuring

    Chinese state-owned steelmaker Dongbei Special Steel Group last week unveiled a restructuring that includes the first principal loss in China’s public bond market.

  • ireworks explode over the Sydney Opera House and Harbour Bridge

    Unitranche LBOs land in Australia

    By Prakash Chakravarti, Sharon Klyne

    iNova Pharmaceutical has broken new ground in Australia’s loan market with the first unitranche debt financing for a leveraged buyout, providing a new funding option for financial sponsors in the Asia-Pacific region.

  • China - US

    Chinese issuers revive US IPOs

    Chinese companies are heading back to the US equity market after a few slow years for IPOs, with at least five preparing to list as early as September to raise a combined US$1.8bn.

  • An employee of Japan Post Co collects mail at a post office in Tokyo

    Delayed delivery for Japan Post

    The mammoth US$10bn-plus sale of shares in Japan Post Holdings is likely to be pushed back to the autumn as the company struggles with a sagging share price and the poor performance of Australian subsidiary Toll Holdings.