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The Daily Capital Markets Digest
The investment-grade new issue market was on a roll on Monday, as investors snapped up US$9.35bn of issuance, showing particular interest in acquisition financings by Kinder Morgan and Perrigo.
JP Morgan, Jefferies and Merchant Capital Solutions finally got the bond backing the US$4.3bn buyout of software firm Tibco over the line on Monday, but the deal priced 200bp–300bp wide of where initial whispers were heard last week.
Freddie Mac and Fannie Mae are both exploring new types of US home loan credit-risk transfer deals in the year ahead, executives at the agencies said Monday in separate interviews.
Alibaba competitor JD.Com, the Chinese online direct sales company that raised US$1.8bn in a Nasdaq IPO in May, is set to return to US equity capital markets next month with a US$500m first-time follow-on offering that will allow early supporters to monetize their holdings.
Claw-backs could be extended to the fixed pay component of banker pay – and not just bonuses – under radical new recommendations from the head of the Financial Stability Board designed to further discourage excessive risk-taking and short-termism.
Keith Mullin finds the continued focus on remuneration astounding.
Canada can gain from a new renminbi licence, but things haven’t always gone well.
Who’s the next target for revenue-generating fines?
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