The trickle of high-yield issuers listing on offshore exchanges to circumvent new EU regulations may turn into a flood, as the burden of compliance scares away even US-listed companies and pushes market stalwarts to consider de-listing existing bonds.
A New York City property that investors were told would be home to an iconic Apple store has instead wound up stuck in a mortgage bond facing hundreds of millions in unpaid debt.
Loss-making “selfie” specialist banks on huge user base to offset consecutive losses
The potential listing of an Anbang Insurance Group company in Hong Kong is dividing equity arrangers, as some rush to pitch and others feel the parent’s mysterious ownership structure raises too many risks.
Private equity firms are increasingly choosing outright sales instead of IPOs when it comes to cashing out of their investments as ECM is unable to compete with buyers capitalising on accommodative debt markets.
Glencore’s disclosure of a US$395m mark-to-market loss on derivatives contracts hedging 55m tonnes of coal production raised concerns about the opaque nature of the company’s trading operations.
India relaunched its tender last week for the sale of US$8bn–$9bn of shares with a third drafting of a conflict of interest clause that had put banks off the planned privatisations.
GDP-linked sovereign bonds, whose principal and coupons fluctuate depending on the issuer’s economic performance, are closer to becoming a key part of financing after the G20 issued a paper tackling obstacles to their launch, which experts followed up with further discussion at the Bundesbank.
The Republic of Poland achieved a strong result for the first Panda bond issue from a European sovereign last week, offering proof that the onshore renminbi market can be an attractive funding option for non-Asian issuers.
Bankers working on Banca Monte Dei Paschi di Siena’s €5bn capital increase are struggling to come up with a structure that ensures the success of the share issue, while respecting the pre-emptive rights of its shareholders.