Banks
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New Frontier Corp, a Hong Kong-based special purpose acquisition company (Spac), is planning to raise $300m-equivalent to support its $1.44bn purchase of China’s United Family Healthcare. -
The Philippines’ Aboitiz Power Corp has found support from a group of 22 banks for a $300m loan that will finance its acquisition of AC Energy’s thermal power company.
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JP Morgan has bagged $400m from a rare cash-settled exchangeable bond, with Tencent Holdings as the reference stock, according to a source close to the deal.
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China Petrochemical Corp (Sinopec) navigated a weak market following this week’s rate cut announcement to raise $2bn from a three-tranche deal. While it took a smaller amount than usual, its transaction was well-timed, say bankers.
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Investors happily agreed to buy new senior secured debt from a Petrobras service provider at a healthy pick-up to the oil giant’s curve on Thursday, but a cancelled deal from Argentina suggested idyllic conditions for Lat Am issuers were slightly fading.
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The latest idea captivating sustainable finance enthusiasts is transition bonds.
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Marfrig Global Foods, the Brazilian beef producer, has stirred up the green finance market by issuing a $500m ‘sustainable transition bond’. To some, it is a template for a new asset class that can help finance the global economy’s shift to lower carbon emissions. To others, it is a shocking case of greenwashing. By Oliver West and Jon Hay.
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BNP Paribas hires UK advisory head — Créd Ag’s credit unit chief moves to markets role — AIIB hires ICBC loan syndicator.
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Capital market participants with an interest in UK social housing are paying close attention to new UK prime minister Boris Johnson’s appointments to his cabinet and inner circle, to try to gain a sense of his attitude towards housing.
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Barclays performed better than its peers in fixed income, currencies and commodities over the first half of the year, helping it beat consensus estimates when it reported results on Thursday. The slide in sterling and a one-off gain from the IPO of Tradeweb flattered the results in its home currency.
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