Bank of America

Event-driven hedge fund Sand Grove Capital Management has disclosed a 5% stake in UK car dealer BCA Marketplace, the subject of a takeover offer from TDR Capital. The purchase follows big sales from some of BCA’s cornerstone shareholders who had agreed to support the bid, including embattled Woodford Investment Management, and Invesco.

Bank of America Merrill Lynch has hired a senior banker from UBS to manage its equity capital markets business in the German-speaking region.

ArcelorMittal jumped into the dollar bond market on Thursday to take advantage of strong funding conditions, after Jerome Powell, chairman of the US Federal Reserve, stoked hopes of a rate cut in July.

Germany’s Infineon Technologies and compatriot ZF Friedrichshafen have signed acquisition-related loans totalling €16.8bn, as loans bankers allow themselves a small sigh of relief after months of deal drought.

The Inter-American Development Bank ducked into the market with a $250m tap of its March 2022 floating rate notes on Thursday, printing the deal in line with guidance.

Budweiser Brewing Co Apac was set to price its multi-billion-dollar Hong Kong IPO at the bottom of guidance on Thursday, according to a banker on the deal.

CVC Capital Partners’ sale of UK warranty provider Domestic & General explored public markets but found a better bid from another CVC fund teaming up with Abu Dhabi Investment Authority. The company announced on Wednesday that it would pay a final dividend to the old CVC fund, as part of an all-bond refinancing of its capital structure ahead of a transfer to the new owners.

Europe's investment grade bond market has slowed from a sprint to a jog, and now to a walk. On Wednesday, Westlake Chemical Corp is the only issuer, taking the baton from the indefatigable Aroundtown, which had kept things going on Tuesday.

Germany’s Infineon Technologies has wrapped up a bank financing package totaling around €9.5bn-equivalent for its acquisition of the US’ Cypress Semiconductor Corp, with an army of banks joining the semiconductor maker’s deal.

Chinese online game streaming platform DouYu has launched a Nasdaq IPO, having delayed its plans in May amid tumultuous markets.

Sovereign, supranational and agency borrowers have started the week with a bang, and syndicate bankers say they do not expect any slowdown of issuance in the coming days.

Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.