Bank of America
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BAML and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.
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Bank of America Merrill Lynch (BAML) and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.
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US cleaning products maker Diversey has accelerated commitments on its €1.6bn-equivalent of loans, backing Bain Capital’s $3.2bn carve-out of the business from Sealed Air, despite one investor in London expressing concern over the deal’s leverage. -
Bank of America posted higher earnings than expected for the second quarter, offsetting a 14% drop of revenue from its fixed income trading business.
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Thermo Fisher Scientific put a big dent in the debt it needs to raise to buy Patheon on Tuesday with a €2.6bn four tranche corporate bond offer.
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A senior banker involved in distressed debt trading at Bank of America Merrill Lynch has left.
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Peru’s efforts to make its domestic bond curve Euroclearable appeared to pay dividends on Monday after 70% of demand for its first deal in the format came from non-Latin American investors.
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Turkey’s Odeabank will meet investors from Wednesday ahead of a possible sale of tier two notes. If the deal goes ahead, it would be the second such deal from a second tier Turkish bank this year, after Fibabanka's debut in May.
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ICICI Lombard General Insurance Co is looking to go public with an up to $900m deal, submitting a draft prospectus for what could be India’s first IPO from a non-life insurer, according to a banker familiar with the matter.
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Korea Gas Corp took advantage of an improvement in market sentiment after US Federal Reserve chair Janet Yellen spoke to Congress, sealing an $800m dual tranche deal on Thursday.
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The Japan Bank for International Co-operation (JBIC) found traction with a stellar four tranche offering on Thursday, gratifying investors feeling the pinch from a year that has been somewhat light on dollar supply.
