Friday, 14 December 2018

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  • africa

    PE firms hunt elephants for 2019

    Private equity firms are elephant hunting again and a new clutch of massive buyout deals are in sight for early 2019 as a falling stock market puts huge public-to-private deals and corporate carve-outs back in reach even as regulators fret over rising leverage levels.

  • An employee packs bundles of Renminbi banknotes at a branch of Bank of China in Hefei, Anhui province

    Chinese banks heed Tier 2 call

    Chinese banks are accelerating their issuance of onshore Tier 2 bonds to replenish capital, as a large amount of notes they issued in 2014 and 2015 will start to turn callable in 2019.

  • Australian flag is planted on a sandbag wall protecting a business on a flooded street in Brisbane.

    Aussie banks lose market share

    Australian bank issuance is about to pick up, with three majors coming out of blackout and several subordinated notes due to be refinanced, but longer-term supply is on a downward path as the sector grapples with a housing market slump, tighter regulations and non-bank competition.

  • The logo of AMP Ltd, Australia's biggest retail wealth manager, adorns their head office located in central Sydney, Australia.

    AMP plans sub-notes after share bloodbath

    Scandal-hit financial group AMP could hardly have picked a worse day to announce an Asian and Australian roadshow for a potential Australian dollar-denominated 10-year non-call five subordinated note offering.

  • The Magneti Marelli logo is seen in this illustration.

    Calsonic gears up for Magneti buyout

    Japanese auto parts maker Calsonic Kansei is raising about €5bn to support its €6.2bn acquisition of the high-tech car parts unit of Italy’s Fiat Chrysler Automobiles, in what will be Asia’s largest leveraged buyout loan.

  • A man rests in the grass near trees at Odaiba waterfront in Tokyo.

    Japanese bond market turns greener

    Green bonds are becoming a common feature in Japan, with seven private companies and a municipal government tapping the domestic market since the beginning of October.

  • Saudi Crown Prince Mohammed bin Salman and Jordan's King Abdullah II ibn Al Hussein attend the investment conference in Riyadh, Saudi Arabia October 23, 2018.

    HSBC and Credit Suisse lead banks at Saudi conference

    Jamie Dimon headed a long list of senior bankers leading a boycott of Saudi Arabia’s flagship investor event, the Future Investment Initiative, in Riyadh last week, as banks seek to distance themselves from the kingdom following the murder of journalist Jamal Khashoggi.

  • A Saudi money changer counts US banknotes at a currency exchange shop in Riyadh

    Flow of funds to Saudi threatened by Khashoggi fallout

    It was supposed to be a showcase for Saudi Arabia and its vision for the future. But the murder of the journalist Jamal Khashoggi and subsequent boycott of the eve

  • CLO market faces threat from amateur investors

    Sub-prime spectre haunts CLOs

    Fears that an overheated CLO market has fuelled a leveraged finance bubble that could lead to a corporate credit crunch have put securitisation back under the spotlight, 10 years after the technology was central to the last financial crisis.

  • DIA logo is seen at its supermarket in central Madrid

    DIA caught in the headlights

    Troubled Spanish retailer DIA’s unsecured bonds are still holding up relative to its shares, even as the company reportedly hired advisory firm Rothschild and could face significant liquidity risks.