Bank of America
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Cobham, the UK aerospace and machine technology maker, has priced its debt-cutting £506.7m rights issue, announced in April, at a heavy discount of 45.4% to Tuesday's closing share price.
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Imperial Capital Group, an investment bank, has made three hires from Barclays and Bank of America Merrill Lynch for its emerging markets sales and trading group. -
Defence systems group Meggitt has completed a $600m private placement with a group of 23 investors from the US.
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Brazilian pulpmaker Eldorado Brasil Celulose is understood to be planning to meet fixed income investors as soon as this week ahead of a $500m debut international bond sale.
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The swathe of rights issues set to form a big part of Emea equity capital markets activity this side of the summer has moved forward this week, with the conclusion of Dubai Parks and Resorts’ deal and the launch of SSAB’s prospectus.
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Asia’s oldest bourse, the Bombay Stock Exchange, is planning to sell 30% of its share capital in an IPO by the end of the financial year, according to a notice to shareholders.
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International institutional investors showed no signs of ‘Brexit’ jitters this week as the last of the sovereign's syndication before the European Union referendum drew a record book of more than £15bn.
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Bayer and Monsanto are circling each other as they both seek acceptable terms for a merger that would create a world leader in crop science. For the equity capital markets, the deal holds out the possibility of one of the world’s largest ever rights issues.
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Agro-chemical giant Monsanto this week rejected a first, $62bn takeover approach from Bayer but with both companies open to a deal, banks, led by Bank of America Merrill Lynch and Credit Suisse, are preparing for the huge financing package expected.
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Axis Bank revived Indian green bond issuance this week with the country’s third international deal. Financial institutions are expected to dominate the pipeline for the rest of the year, as the challenge of issuing offshore deters other borrowers, writes Narae Kim.
