A unit of billionaire Paul Singer’s Elliott Management, which is Argentina’s main holdout creditor, is extending its legal fight with the South American nation to China.
US loan investors, hungry for more new-money paper, were served a Whopper-sized acquisition loan when fast food giant Burger King and Canadian coffee and doughnut chain Tim Hortons agreed to join forces. The merger will create the world’s third-largest quick-service restaurant company and, with a multi-billion institutional term loan component, the tie-up gives a boost to the M&A financing pipeline heading into September.
A ¥54bn (US$520m) financing backing the leveraged buyout of SBI Mortgage has underscored the hunger for higher yields among Japanese financial institutions starved of lending opportunities.
Hong Kong Airlines intends to offer retail investors free flights in an attempt to drive demand for the city’s first dual-currency IPO.
An expected deluge of bank capital bonds from China’s biggest lenders is set to change the make-up of Asia’s G3 high-yield market, as investors sell PRC property credits in exchange for similarly yielding Additional Tier 1 securities.
Islamic finance markets are set to receive another boost in the coming weeks with the potential addition of two more non-Islamic countries to the list of sovereign sukuk issuers.
Up to three-quarters of interest rate swaps executed by US buyside firms are being structured in a way that avoids Dodd-Frank requirements for trading standardised derivatives on exchange-like platforms.
The International Capital Markets Association, representing many of the world’s major issuers and their advisers, has reached agreement on new recommended sovereign bond clauses that could avert the problems that have afflicted Argentina in restructuring its debt.