Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
BNP Paribas plans to sell 15% of its Hawaiian banking arm First Hawaiian in a US$485m IPO, taking advantage of high valuations attributed to the islands’ banks and their relative insulation from global banking woes.
Private equity firms KKR & Co and Carlyle made the case in both words and actions last week that they can successfully monetise their portfolios of public securities even in challenging equity capital markets.
Freeport-McMoran is planning its third at-the-market (ATM) program – a US$1.5bn equity offering aimed at helping to repair its debt-laden balance sheet without having to sell its prized copper and gold assets.