Americas
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China’s Dalian Wanda Group has filed for a US IPO of up to $500m for its sports business, according to a source close to the deal. -
Brazilian building materials company Votorantim Cimentos is looking to buy back up to $650m of outstanding bonds using funds that its parent company is set to receive from the sale of pulp and paper company Fibria, due to go through on January 14.
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Danske Bank was set to complete its bond sale on Friday at a slightly higher price, after activist investor Bill Browder forced a delay due to his comments about its money laundering scandal this week. Before the postponement, Danske had drummed up a large amount of support in the dollar market, as UniCredit did earlier in the week.
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Marsh & McLennan Companies printed the biggest deal in its history with a multi-tranche merger and acquisition financing this week, providing a hint of optimism in the dollar market.
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In this round-up, US-China extended the previously planned two-day trade talk to a third day, Li Keqiang met Tesla’s Elon Musk, and the state council rolled out lower tax rates for small and low profit businesses.
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Colombian company TermoCandelaria Power Limited (TPL) finally injected some intention to the Latin American primary bond market with a roadshow announcement, but bankers continue seeking a candidate to be the first to raise funding.
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Brazilian state oil giant Petrobras began the year finalising yet another buy-back of existing bonds, though the response from bondholders fell below the $1.5bn maximum repurchase amount set by the borrower.
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That US president Donald Trump’s administration should pick a fight with the World Bank — and the bevy of other multilateral development banks the US owns shares in — is no surprise.
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Investors flocked to Nordic and Canadian covered bonds issued this week by DNB Boligkreditt, Bank of Nova Scotia (BNS) and National Bank of Canada, perhaps reflecting a view that their spreads are well positioned to withstand the European Central Bank’s withdrawal from covered bond market.
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Cultured, guitar-playing capital markets banker who was widely seen as the best SSA originator in the business died on December 26. He was 48 and had been suffering from cancer.
