Banks are likely to shelve plans to sell senior unsecured bonds, with bosses opting to save money by replacing private funding with much cheaper emergency funds from the European Central Bank designed to spur lending.
Saudi Arabia last week announced plans to open its stock markets to foreign participants by mid-2015, a move that analysts say is hugely significant for equity investors – and the bankers that serve them.
Seadrill has taken the first steps towards restoring its reputation with equity-linked investors after the Norwegian oil services company offered investors an apology and completed a revised conversion incentive offer on its US$650m 3.375% 2017 bonds last week.
Private equity companies that have sharply increased their holdings of publicly traded securities recently are looking at ways to return capital to their limited partners and book higher returns without selling the underlying positions. Blackstone’s large margin loan secured by its holdings in Hilton may point the way.
The election of a new federal government promises to kick-start issuance in Indonesia’s capital markets, but much will rely on whether or not the country makes investments to improve the economy.
US bankers and lawyers are inciting a sense of urgency among corporate clients to get tax-reducing acquisitions of offshore companies signed before the end of this year, now that a slew of recent so-called tax-inversion trades has set off alarms in Congress.
Senior officials in China have expressed support for the proposed reforms to the way sovereign debt might be restructured set out recently by the International Monetary Fund but they would like to see a further shake-up of international decision-making bodies such as the Paris Club.
The prospect of a technical default by Argentina is looming this week as the government and holdout investors stare each other down in a very public battle of nerves ahead of the expiration of a grace period for debt payments on July 30.
The first batch of issuance under a “minibond” programme that the Athens Exchange Group (Athex) has been promoting to finance Greek SMEs is set for launch after the summer break.