Guatemala’s head of public credit said on Wednesday that the Central American sovereign hoped to resolve in the “next two days” a dispute with Florida-based Teco Energy that has caused its fiscal agent in New York to freeze a coupon payment due at the start of this month.
Fast food franchise company CKE Restaurants Holdings priced a $400m whole business securitization several points tighter than initial pricing thoughts. With Roark Capital as it’s sponsor, the transaction stands out among other brands for its reliable performance and name value, sources say.
Boris Johnson, UK prime minister, announced on Tuesday night a 10 point plan for the environment, including phasing out petrol cars by 2030. But policy specialists are disappointed that the plan lacks financing commitments and especially that there is no announcement of a national investment bank.
Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.
This week in Keeping Tabs: what a Biden administration means, the people behind the BioNTech vaccine, the link between commercial property and bank equity, and a proposal for dealing with debts in poor countries.
Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.
As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.
Boris Johnson, UK prime minister, announced on Tuesday night a 10 point plan for the environment, including phasing out petrol cars by 2030. But policy specialists are disappointed that the plan lacks financing commitments and especially that there is no announcement of a national investment bank.
The EU recovery fund has hit a major obstacle in its journey to capital markets. Hungary and Poland have vetoed the "own resources decision", which would allow the EU to access the bond market on its own account.
Gregg Lemkau is leaving Goldman Sachs at the end of the year and will head up an alternative investment firm linked to tech entrepreneur Michael Dell. Jim Esposito will take over as joint head of the investment banking division at Goldman.
It felt like a great weight had been lifted from financial markets this week.
Jefferies has enjoyed a record year in European investment banking, powered by equity capital markets, writes David Rothnie.
The European Bank for Reconstruction and Development landed $1.5bn of five year paper on Wednesday — $500m more than it was originally targeting, thanks to stronger than anticipated demand.
Permanent TSB attracted plenty of demand for a new additional tier one (AT1) note on Monday, with a lack of issuance in the asset class sending investors towards names offering higher yields.
At least two new middle-market CLO deals, together with the same number of middle-market resets, are in the pipeline, and might open up the CLO primary market, which has been quiet since October 30 with the last BSL CLO priced by Palmer Square Capital Management.
High grade corporate bonds flew off the shelves again on Wednesday, with French computer game maker Ubisoft coming through fair value despite growing concern that the rush of deals would mean issuers paying higher new issue premiums.
Metso Outotec, the Finnish mining equipment maker, and UK warehouse Reit Tritax Big Box have mandated for corporate bond issues, as the euphoria in the high grade market shows little sign of waning.
Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.
At least two new middle-market CLO deals, together with the same number of middle-market resets, are in the pipeline, and might open up the CLO primary market, which has been quiet since October 30 with the last BSL CLO priced by Palmer Square Capital Management.
Guatemala’s head of public credit said on Wednesday that the Central American sovereign hoped to resolve in the “next two days” a dispute with Florida-based Teco Energy that has caused its fiscal agent in New York to freeze a coupon payment due at the start of this month.
Central China Real Estate paid up for its $300m return to the bond market on Tuesday, navigating weaker investor sentiment to get its deal past the finish line.
Dongfeng Nissan Auto Finance Co is set to launch a Rmb4.9bn ($747m) auto loan asset backed securitization next week.
Croda, the UK chemicals company has closed the books on a £608m equity raise to help fund the purchase of Iberchem, the Spanish fragrance manufacturer.
As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.
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GC Asia
Croydon’s bankruptcy could be just the beginning
Access to cheap loans with little restrictions via the Public Works Loan Board (PWLB) is not a sufficient solution to a dearth of government funding for the UK's local authorities. The funding model must change or there will be plenty more bankruptcies like the London Borough of Croydon's.
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