Monday, 24 September 2018

Top News

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  • Laborers work at a steel plant of Shandong Iron & Steel Group in Jinan, Shandong province, China.

    Shandong rolls out new CB model

    Shandong Iron & Steel Group is planning China’s first perpetual convertible bond issue, giving investors the option to convert the instrument into equity as part of its efforts to reduce debt.

  • Terry Gou, founder and chairman of Foxconn reacts during an interview with Reuters in New Taipei City, Taiwan.

    Foxconn mulls strategic tranche

    The landmark Shanghai IPO of Foxconn Industrial Internet may be the first mainland listing in more than four years to set aside a portion of shares for strategic investors.

  • A smartphones with Sprint logo are seen in front of a screen projection of T-mobile logo

    T-Mobile adds to record M&A spree

    The U$38bn financing backing the merger of T-Mobile US and Sprint is the latest high-profile M&A financing to hit the market, adding to a pipeline of deals that lenders expect to continue to grow.

  • The remnants of a roller coast sits in the surf three days after Hurricane Sandy

    Stresses emerge as rising rates erode liquidity

    Signs of stress are beginning to appear in pockets of the global financial system, in a sign that central bank efforts to wean markets off ultra-loose monetary policy after almost a decade of easy money could turn into a bumpy ride.

  • Blackstone Group office

    Blackstone's F&R buy likely to close in September

    US private equity firm Blackstone Group’s US$20bn acquisition of a majority stake in Thomson Reuters’ Financial and Risk unit is expected to close in September as EU regulatory requirements make a targeted July 1 completion look increasingly unlikely.

  • MarketAxess logo

    MarketAxess allows Pimco to trade by its own rules

    MarketAxess has granted Pimco a special arrangement that allows the bond giant to limit the information it shares on the electronic trading platform and take advantage of any off-market prices, three sources with knowledge of the matter told IFR.

  • US dollar bills

    US leveraged loans in demand

    By Yun Li

    A new milestone as US leveraged loans hit US$1trn of outstanding deals coupled with a standout performance in the first quarter is further boosting investor demand for the floating rate product and driving secondary prices and trading volume higher as demand continues to exceed supply.

  • Ara Hovnanian, president and chief executive of Hovnanian Enterprises Inc

    Hovnanian misses payment, paving way to default

    Homebuilder Hovnanian missed a small interest payment on Tuesday as part of a controversial deal struck with Blackstone’s credit arm GSO that has gripped the credit derivatives market.

  • European IPOs remain under pressure

    European IPOs remain under pressure

    `A mixed response to the first crop of European IPOs to price following the Easter break does not bode well as senior ECM bankers warn that companies in the pipeline running into summer are of highly variable quality, with deals expected to fail or require restructuring.

  • Deutsche Bank headquarters

    Off with their co-heads

    Christian Sewing became the latest chief executive of a bulge-bracket bank to say he no longer wanted business divisions to have co-heads when he announced a further restructuring of Deutsche Bank in late April.