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VSE takes in US$1.15bn haul from combo equity, mandatory raise

VSE secured an upsized US$1.15bn late Monday from the two-part sale of common stock and a mandatory convertible to partially fund an acquisition, raising dramatically more than planned and reducing pressure on a planned debt offering.

EQY

Oracle takes bottom-up approach to funding 2026 capex

Amid an unprecedented AI-focused borrowing binge, Oracle became the first of the hyperscalers to blink on the public equity side, raising US$5bn from the sale of a mandatory convertible preferred, while filing to sell another US$20bn of stock on the open market through an ATM program.

EQY
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GM leads ABS primary in February

General Motors on Tuesday kick-started US asset-backed issuance in February on the heels of a solid January when issuers sold more than US$27bn of supply.

SEC
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Arko launches US$210m IPO to spin off wholesale fuel unit

Arko moved ahead with plans to split in two on Tuesday by launching a US$210m Nasdaq IPO of its Arko Petroleum wholesale fuel division.

EQY

Booming IG bid returns

Big order books and tight pricing were back in the euro market on Tuesday as issuers printed deals inside their curves.

BON
Prasad Gollakota

How stable is a stablecoin? That is a question that S&P attempts to answer via its Global Ratings’ Stablecoin Stability Assessment, a product designed to quantify a stablecoin’s ability to maintain its peg to a fiat currency. It produces a score from 1, very strong, to 5, weak.

P&M
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JP Morgan Cazenove still top UK 'house broker'

JP Morgan Cazenove has maintained its position as the top house broker for UK blue-chip companies throughout the last 20 years, although its lead has narrowed as Morgan Stanley has surged up the rankings.

P&M
Moves – JP Morgan gives Hillery and Wiltz wider banking remits

JP Morgan has expanded the roles of Conor Hillery and Matthieu Wiltz, its co-heads of EMEA, to co-heads of global banking in EMEA, with Wiltz also shifting more towards investment banking from trading where he has spent most of his career.

SEC P&M
UPDATE - Bankers ask who's next after Canada backs DSRB

Canada has publicly backed the Defence, Security and Resilience Bank, becoming the first sovereign to offer verbal support in a major milestone for the proposed multilateral development bank.

BON P&M
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Ethiopia's bondholder committee seeks to enforce 2024 bond payment

A group of investors in Ethiopia's only outstanding bond are taking legal action to enforce payment after a proposed debt restructuring deal they struck with the government in January was batted back by the African sovereign's official creditors, who said it did not meet comparability requirements under the G20's Common Framework.

P&M BON
Hong Kong ramps up scrutiny of IPO applications

Hong Kong's securities regulator said on Friday it had identified "serious deficiencies" in the preparation of some listing documents amid a surge in initial public offerings in 2025, flagging potential misconduct by sponsors and a mismanagement of resources.

P&M EQY
Booming IG bid returns

Big order books and tight pricing were back in the euro market on Tuesday as issuers printed deals inside their curves.

BON
Telecoms dial in to opportunities

Liberty Global and its subsidiaries are making waves in the high-yield market. Its fully owned subsidiary Belgium-based telecoms operator, Telenet ServCo, is marketing a new issue to refinance debt. 

BON
ING rides wave of demand for US$1.5bn AT1

ING Groep capitalised on strong momentum and appetite for risk to secure both a large size and a tight pricing outcome with a US$1.5bn Reg S Additional Tier 1 bond on Tuesday.

BON
FIG issuers rake in orders as sentiment improves

Taking advantage of improved market sentiment on Tuesday, three FIG issuers managed to draw substantial demand for their respective reentries into the euro senior unsecured market, outcomes reflective of a risk-on mood and supportive technicals.

BON
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Italy takes size from 'sweet spot' 15-year trade

Italy secured a massive €157bn order book for its new €14bn 15-year, which was at the vanguard of the second wave of 2026 SSA syndications .

BON ESG
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GM leads ABS primary in February

General Motors on Tuesday kick-started US asset-backed issuance in February on the heels of a solid January when issuers sold more than US$27bn of supply.

SEC
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Sabesp sets blue bond record via A/B structure

Sao Paulo water utility Sabesp has delivered a landmark for Latin American sustainable finance, issuing by far the largest blue bond yet while showcasing what bankers say is a fast-emerging way to bring bond investors into multilateral A/B lending structures that have been traditionally dominated by banks.

BON ESG SEC
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GM and Ford signal gear shift from US ABS

US auto ABS from Ford Motor and General Motors could be partially displaced by cheaper deposit funding once the automakers' planned banks are up and running.

P&M SEC BON
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Vertical Bridge in jumbo cell tower deal

Vertical Bridge is returning to the ABS primary market with a US$1.66bn securitisation backed by a portfolio of wireless cell towers it oversees and that has increased significantly following a lease-backed deal with Verizon.

SEC
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High Ridge flies in ABS debut

High Ridge has lined up its first aircraft securitisation, aiming to take advantage of improved funding conditions and robust demand from airlines that are trying to accommodate increasing ridership around the world.

SEC
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CAF lands 'child-lens investing' firsts

CAF – Development Bank of Latin America and the Caribbean has become the first multilateral development bank to apply the United Nations Children’s Fund’s Child-Lens Investing Framework to its bond issues.

BON ESG LOA
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Sabesp sets blue bond record via A/B structure

Sao Paulo water utility Sabesp has delivered a landmark for Latin American sustainable finance, issuing by far the largest blue bond yet while showcasing what bankers say is a fast-emerging way to bring bond investors into multilateral A/B lending structures that have been traditionally dominated by banks.

BON ESG SEC
Transition bonds aim to avoid 'carbon lock-in'

The bond market is gearing up to test the transition label with the next generation of deals set to be supported by new guidance and principles that will introduce the concept of "carbon lock-in" to the wider capital markets.

ESG
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UK pension scheme commits £1bn to transition credit fund

One of the UK’s largest pension schemes is set to put as much as £1bn into an innovative transition credit fund from Axa Investment Managers, highlighting continuing appetite among asset owners for ESG investing despite the unsupportive political environment.

ESG BON
Sustainable investments struggle in AI-dominated stock market

Barely a quarter of sustainability indexes outperformed their non-ESG counterparts in 2025 in a highly concentrated equity market dominated by artificial intelligence, according to research by Morningstar. 

EQY ESG P&M
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VSE takes in US$1.15bn haul from combo equity, mandatory raise

VSE secured an upsized US$1.15bn late Monday from the two-part sale of common stock and a mandatory convertible to partially fund an acquisition, raising dramatically more than planned and reducing pressure on a planned debt offering.

EQY
Top Stories By Asset Article Promo
Oracle takes bottom-up approach to funding 2026 capex

Amid an unprecedented AI-focused borrowing binge, Oracle became the first of the hyperscalers to blink on the public equity side, raising US$5bn from the sale of a mandatory convertible preferred, while filing to sell another US$20bn of stock on the open market through an ATM program.

EQY
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Oracle flips switch on US$5bn mandatory convert

Oracle has started marketing a US$5bn mandatory convertible preferred that is part of a US$50bn debt and equity financing package aimed preserving the Texas-based hyperscaler's investment-grade credit rating amid massive AI spending.

EQY
Muyuan Foods plans to price HK listing at maximum price

Shenzhen-listed Muyuan Foods is planning to price its Hong Kong listing at the maximum offer price to raise HK$10.7bn (US$1.37bn), said people with knowledge of the matter.

EQY
Trolley reopens Kuwaiti IPO market

Kuwaiti convenience store operator Trolley has launched its around US$175m IPO that will allow it to list ahead of Eid al-Fitr in March.

EQY
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EA woos Asian lenders for record LBO

Sponsors of the world’s largest leveraged buyout – the US$55bn acquisition of US video game giant Electronic Arts – are seeking commitments from lenders in Asia Pacific for a portion of the massive financing backing the deal.

LOA
Conga syndication delayed amid software selloff

Concerns about artificial intelligence exposure and a broader selloff in software credits are weighing on leveraged loans backing Conga Corp’s planned acquisition of the business-to-business division of Pros Holdings, slowing momentum for a deal that had been expected to be placed more swiftly among investors.

LOA
Team.blue and Dedalus wrongfooted by software sector fears

A sudden souring in the software sector caused Belgium-headquartered technology company Team.blue and Italian healthcare software company Dedalus to hit the stop button last week on exercises to reprice term loan Bs.

LOA
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Borrowers unleash issuance storm on Europe

Borrowers have swarmed over the European leveraged loan market but the extreme bias towards repricings and refinancings over new money means the tussle between supply and demand has only swung further in issuers’ favour.

LOA
Repricings swarm market as investors wait for LBOs

Repricings are again setting the tone in the US leveraged loan market, as borrowers move quickly to cut borrowing costs amid white-hot investor demand and a still-limited flow of new money M&A and leveraged buyout financings.

LOA