Bank of America

The commercial paper market is emerging as a source of stress as financial markets creak under the pressure of the coronavirus crisis. This happened in the 2007-9 financial crisis too, but this time the strains are different. Market participants want central banks to act.

Garanti BBVA has launched the first environmental, social and governance loan from Turkey's banking sector, as the syndicated loan primary market continues to be one of the few hardy spots in a financial system hit by the coronavirus and oil price panic.

SBI Cards and Payments Services has priced its Rp103.4bn ($1.4bn) IPO at the top of the range and was allocating the stock to investors on Wednesday.

SBI Cards and Payment Services was riding high on Thursday after a rush of institutional investor demand pushed its billion-dollar IPO through a coronavirus-driven slump in local and global markets this week. Jonathan Breen reports.

Clayton, Dubilier & Rice has launched a take-private bid for UK based healthcare marketing and PR firm Huntsworth, bidding an enterprise value of £524m for the company. The debt financing for the deal is a $295m term loan and a £35m revolver provided by Royal Bank of Canada.

Ninety One, the asset management division of Investec, has set a price range for its IPO on the London Stock Exchange, despite extreme market turbulence caused by the spread of the Covid-19 coronavirus across the globe.

SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.

Bank of America makes Vicario EU CIB head — Citi names Iberia heads — Daiwa swaps Purton for Caillebotte

SBI Cards and Payments Services, a State Bank of India subsidiary, set the final price range for its IPO, putting proceeds of up to Rp103.5bn ($1.44bn) in reach for when it launches the deal next week.

H Lundbeck, the Danish pharmaceutical company, has mandated banks for a five year debut euro benchmark from its new bond programme, after gaining US regulatory approval for a new migraine treatment.

SBI Cards and Payments Services has finalised the price range for its IPO, which is set to be worth up to Rp103.5bn ($1.44bn) when it is launched next week.

With most high yield companies still preparing annual numbers, the primary bond market saw only two US-based issuers choosing to print unsecured deals this week. The deals were in popular industries and intended to refinance existing debt, but with the strong market backdrop one issuer opted to boost the size of its issue.