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India’s Adani returns to the PP market for more
Adani Transmission has raised a further $90m US private placement, according to market sources, after it became earlier this year the first Indian company to raise debt in the market since 2007.
01.30 PM -
The coronavirus graphic to watch: UK deaths exceed China's
UPDATED 5 April 2am GMT The spread of the coronavirus continues to accelerate in the US, UK and Turkey, which we have added to our graphics. Turkey had 2,786 new cases on Friday, bringing its total to over 20,000, the sixth highest in Europe.
05 Apr 2020 -
Guggenheim tops chart as IB revenues shrink
Investment banking revenue in March was lower than normal as the coronavirus pandemic sapped risk appetite — but it was far from a total wipeout.
02 Apr 2020 -
AIA and Baidu reopen Asian dollar bonds
Hong Kong's AIA Group and China's Baidu reopened the Asian bond market this week, proving that investors are still willing to commit to the right credits ─ as long as they come at the right price. Morgan Davis reports.
02 Apr 2020 -
Corporates roar but prospect of beating 2009 record distant
The primary corporate bond market in Europe threw up another blistering day on Wednesday, with seven issuers on screens by mid-morning, bringing the number of deals so far this week to 18, though bond syndicate desks are hesitant to compare this crisis market with the record-breaking issuance in 2009.
01 Apr 2020 -
Investors step back from Indian dollar bonds
Indian debt issuers are starting to feel the impact of the Covid-19 pandemic, which has forced a country-wide lockdown for three weeks. With dollar bonds slumping in the secondary market and downgrades coming fast, the outlook for borrowers is bleak.
01 Apr 2020 -
Cruise line launches rescue attempt with rights issue and $3bn bond
Carnival Cruises, the world’s largest leisure travel company, is rolling the dice on a coronavirus rescue package, launching a $1.25bn underwritten rights issue, $1.75bn convertible bond, and a $3bn dual currency high yield bond.
31 Mar 2020 -
Chinese LGFV taps euro bond market
Chinese local government financing vehicle Chenzhou Industry Investment Group sold a euro-denominated bond on Thursday, rounding out a week of club-like deals in Asia.
27 Mar 2020 -
Tale of two bond markets: China onshore diverges as fears rise
Chinese bond issuers are confronting a chaotic market at the moment: onshore yields for state-owned enterprises have fallen to historic lows, offshore yields have ballooned and more than 50 issuers have been forced to cancel deals this month. Rebecca Feng and Addison Gong report.
26 Mar 2020 -
Asian borrowers hit with downgrades as Covid-19 heightens refi pressure
International rating agencies have announced a slew of ratings downgrades or outlook changes for Asian companies as the Covid-19 outbreak puts pressure on their refinancing abilities. But DCM bankers and investors are expecting some good to come from these rapid changes. Morgan Davis reports.
26 Mar 2020
