Banks
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One of Doosan Fuel Cell Co’s major shareholders is offloading its stake in the South Korean eco-friendly cell maker for up to $353m-equivalent. -
Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.
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Brookfield Asset Management is readying the IPO of its Indian real estate investment trust, which could raise up to Rp38bn ($519m) in primary proceeds.
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Credit Suisse has appointed Ryuya Hishinuma to lead its investment banking and capital markets business in Japan, according to an internal memo.
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Debt capital markets bankers say that smaller pricing steps are possible when selling deals on a yield basis, after bookrunners made a 7.5bp move with National Bank of Greece’s green deal this week.
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Inland Homes, a UK housebuilder, has triggered an accordion clause on a sterling loan to finance extra construction, as lenders say there are signs that companies are using money to invest again rather than firefight the effects of Covid-19.
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By offering a hefty pick-up over national champions, Bluestep Bank, a Swedish non-standard mortgage lender, attracted a hefty order book for the second deal from its newly established covered bond platform this week.
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A record month for US mergers and acquisitions will fail to boost the dollar corporate bond market, as bankers predict a sharp slowdown in activity in the fourth quarter.
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The sustainability-linked debt structure, which has already spread from the loan market to corporate bonds, has made its first appearance in a convertible bond, with a deal by Dürr. CB specialists expect it will take root in that asset class too. Jon Hay and Aidan Gregory report.
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US banks could be set for an extended hibernation from the dollar market after entering third quarter earnings blackout.
