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Monday, 23 October 2017

Top News

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  • Noble Group logo

    Noble CDS holders still in limbo

    Holders of Noble Group credit default swaps were left dangling for another week after ISDA’s determinations committee again failed to reach a conclusion over whether an extension of the issuer’s US$2.03bn loan constitutes a credit event.

  • Goldman Sachs sign

    Goldman lifts the hood and finds US$5bn

    Goldman Sachs sought to reassure investors that it can find new growth opportunities and said last week it would increase annual revenues by at least US$5bn by filling client gaps in fixed income, ramping up its new consumer bank and other measures.

  • Norske Skog sign

    Top creditors stitch up Norske Skog

    The drawn-out restructuring of Norske Skog took an unexpected twist last week. Senior secured creditors demanded immediate repayment of their €290m debt, despite previously pledging an emergency loan of €16m to keep the world’s second largest newsprint producer afloat.

  • First Data logo

    KKR makes US$1.5bn dent in First Data stake

    KKR made an auspicious start to the potentially long-winded process of selling its stake in payments processor First Data, a difficult pre-crisis leverage buyout that has finally begun to bear fruit for the private equity firm.

  • Logo of Germany's Berenberg bank

    Berenberg the Alpha bank

    Germany’s Berenberg has picked up its first sole bookrunner role on a UK IPO, with pre-marketing beginning last Tuesday on a £100m-plus listing for Alpha Financial Markets Consulting, a consultancy serving the asset and wealth management industry.

  • Vienna

    Austria 100-year blows the doors off

    Austria made bond market history last week, bringing the first 100-year eurozone sovereign syndicated trade and pushing the boundaries of the European bond market into uncharted territory.

  • Volatility

    Skew jump reveals equity jitters

    Historic lows on the CBOE’s VIX volatility index continue to defy the most uncertain geopolitical backdrop in decades, but other parameters point to rising investor skittishness as the relative cost of hedging large-scale equity moves ratchets higher.

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

    Japan Post schedules second delivery

    The Japanese government is gearing up to launch a giant US$10bn-plus share sale in Japan Post Holdings in the week ahead, despite a volatile share price and the risk of military conflict casting a shadow over the region.

  • Japan and U.S. flags fly outside the White House in Washington

    Japan binges on dollar debt

    Japanese companies are loading up on US dollar bonds at the fastest pace since 1989 as they turn to the global capital markets, rather than banks, to fund overseas expansion.

  • Best

    Best tries to avoid ZTO shadow

    Chinese logistics company Best, which counts Alibaba Group as its largest shareholder, has launched a NYSE IPO of up to US$932m, asking investors to take its high-growth story on trust despite the poor performance of a direct peer.