Bank of America

Anadarko Petroleum has opened talks with potential suitor Occidental Petroleum, leaving bankers gobsmacked and potentially costing the US shale oil company $1bn if it cancels its acquisition by Chevron.

Tottenham Hotspur, the north London football club, is considering selling US private placements to partly pay off bank loans generated by the construction of its new stadium, several market participants have said. Unlike their US equivalents in the NBA and NFL, professional clubs from the UK are a rarity in the market, as the threat of relegation makes them too perilous an investment to some investors. Silas Brown reports.

Drax Group, the UK electricity generator, has launched a $200m tap of its 6.625% 2025 notes, to pay for part of its purchase of Iberdrola’s Scottish power assets earlier this year.

The Asian Infrastructure Investment Bank has hired a new treasurer to replace Søren Elbech, who left at the start of the year.

US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m).

Latin American bond buyers finally had some proper supply to soak up demand after two weeks without the kind of paper that tends to attract EM investors.

Ontario Municipal Employees Retirement System (Omers) printed its debut dollar trade on Thursday, with the issuer expected to return to the market at least once a year.

Two companies could bring some life to Latin American bond markets on Thursday amid a quiet period for new issues despite apparently supportive conditions.

ARA Group has begun bookbuilding for its ARA US Hospitality Trust (ARA US) listing on the Singapore Stock Exchange. The deal represents the spin-off of US-based Hyatt branded hotels.

The US’s Occidental Petroleum has swooped in with a roughly $57bn bid for Anadarko Petroleum, drawing battle lines against Chevron’s smaller bid for the shale oil company.

Finablr, the Abu Dhabi-based cross-border currency and financial technology holding company which owns Travelex, is one of the few firms in the market with a live IPO. But banks are not rushing to set a price range, wanting to give investors more time to value the business.

Eagle Hospitality Trust is preparing to launch the roadshow for its up to $600m Singapore IPO on Friday, according to a source familiar with the matter.