.png){kind=logo}
GC Asia
Ambac disappoints, CIFG rating downgraded
Ambac Financial, parent company of bond insurer Ambac Assurance, on Wednesday announced plans to raise at least $1bn of capital through an equity offering. It will also stop writing structured finance business for six months.
It is offering at least $1bn of shares of common stock, with a par value of $0.01 per share. The underwriters have a 30 day option to buy additional shares to cover over-allotments, if there are any.
Credit Suisse, Citigroup, UBS and Bank of America are joint bookrunners ...Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: subs@globalcapital.com
Or sign up for a trial to gain full access to the entire site for a limited period.
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.
Further Reading
-
People & Markets
China markets round-up: PBoC lowers benchmark lending rate, delayed January credit data beats consensus, overseas holding of Chinese bonds rise despite virus
-
Regulation & Policy
China policy round-up: March parliamentary meetings face delay, premier Li warns against Covid-19 impact on economy, US applies restrictions on Chinese media
-
Asia - People News
UBS appoints new Apac research head
-
Bank Strategy
Top banks culled 1,700 equities jobs last year
