Bank of America
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Industrial conglomerate Cosan looks set to provide the toughest test of investor appetite for Brazilian credit risk since Petrobras published its delayed 2014 financials results in April.
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Tata Steel is looking to reprice a $3.1bn refinancing it sealed in 2014 and has asked banks on that deal for feedback. Although the loan is not performing remarkably in secondary, the company will be able to cut costs thanks to its solid banking relationships, said a source who worked on the 2014 borrowing. -
Swiss travel retailer Dufry began roadshowing on Monday its €500m high yield bond, part of the financing package to support its buyout of World Duty Free.
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Citigroup sold a 4.17% stake in Abengoa’s class ‘B’ shares in an accelerated bookbuild on Thursday night, for €97.6m.
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Though Bank of America remains by far the most fined bank in history, in the second quarter results for the US banks, it was Goldman that felt the heat, sucking up a $1.45bn provision for mortgage litigation and regulatory matters.
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A strong performance from issuers in dollars this week means that more borrowers should look at printing in July, said SSA bankers.
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Chinese wealth management service provider Jupai Holdings priced its $53m IPO on the New York Stock Exchange at the bottom end of guidance on July 16, as its selling shareholders reined in the number of secondary shares on offer.
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Three block trades took place on Tuesday night, as Europe’s equity capital markets appear to be returning to normality after the stress of the Greek debt negotiations of the past few weeks.
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Naspers reopened the market for CEEMEA corporates this week. But the rare nature of the credit means that few other borrowers can get away with similarly modest — if historically slightly elevated — premiums, said bankers on the deal.
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The future of Greece as a eurozone country was hanging in the balance on Wednesday — all but shutting down the euro benchmark market for public sector borrowers.
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Asia’s primary debt capital market was crowded on July 14 as opportunistic issuers rushed out to take advantage of a favourable, but perhaps short, issuance window. Korea Gas Corp (KoGas) was among the throng.
