Citi
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Citi’s Greater China head of corporate and investment banking (CIB), Roger Zhu, has retired, GlobalCapital Asia understands. -
A $3.1bn piece of Tata Steel’s $5.6bn multi-trancher was signed in December with 34 lenders. The deal has been singled out for praise by many loans bankers for its structuring that led to success despite the borrower operating in the troubled steel sector.
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The first full year results for the major US investment banks show that little changed in Q4 — litigation costs and poor trading revenues, particularly in fixed income, are still causing most of the pain.
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Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line-up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.
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Air France KLM sold its last remaining shares in Amadeus IT Holding on Thursday evening, at a price very close to a record high for the stock.
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Enel, Italy's leading power company, announced on Wednesday that it would issue a benchmark 10 year bond in an exchange offer for up to €5.5bn of existing bonds, as part of a liability management exercise. The transaction is meant to extend Enel's maturity profile.
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Shire has raised over $3bn in loans in the last month for its $5.2bn takeover of NPS Pharma. The bio-pharmaceutical company is paying a high premium for NPS’s assets, but Shire may also be loading up on debt to deter takeover bids from rivals, said bankers.
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Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line-up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.
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Akbank TAS is out in the market with a new dollar bond, a week after the Turkish sovereign made its 2015 debut. The bank is making an opportunistic move to take advantage of tight spreads caused by a flight to less volatile credits across CEEMEA.
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The Republic of Indonesia started 2015 in style on January 8 with a $4bn dual trancher that was five times subscribed. The overwhelming demand meant the sovereign was able to shave 150bp off its funding costs.
