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Cooler reception suggest AI capex hype is shrinking
The novelty of these jumbo deals could wane as hyperscalers repeatedly hit the market
◆ Mileway debuts in euros with €1.5bn dual tranche ◆ European Outlet Mall Venture and Vesteda print green bonds ◆ Borrowers return as sector refinancing cycle turns back to unsecured debt
◆ UK defence company returns after seven year absence ◆ Sticky book as investors seek rare sterling supply from the sector ◆ Deal pays only small single digit concession
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Country Garden Holdings Co saw its dollar bond prices spike on Friday following a ratings upgrade from Moody’s — a move that is set to allow the property developer expand its investor base and lower its funding costs.
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Global investment firm Pimco has hired a new portfolio manager and managing director, who will serve as head of private credit in Europe. With this hire, Pimco is looking to bolster its special situations business in Europe.
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Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.
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Beijing Enterprises Holdings took €500m from its maiden green bond on Thursday, helped by support from the bookrunners on the deal.
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Instant noodle maker Tingyi (Cayman Islands) Holding Corp was back with a $500m deal on Thursday after an eight-year hiatus from the dollar bond market.
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Despite the financing that two jumbo acquisitions revealed this week would require, loans bankers fear that with no end to the coronavirus pandemic in sight and entire industries reeling from the fallout of lockdown, their jobs will soon be on the line. Mariam Meskin and Mike Turner report.