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Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
High yield issuers may be worried about market access, but some do not see them losing it
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Package holiday group Thomas Cook said on Friday that it was discussing a deal with Chinese conglomerate Fosun Group, its largest shareholder, about a capital injection and a debt for equity swap.
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Blue chip Hong Kong issuer New World Development Co has priced a 10 year bond worth $950m, after the leads decided to start bookbuilding at a generous level to build momentum. -
Amundi and the European Investment Bank are collaborating on a new €1bn fund aimed at bringing the benefits of green bond funding to smaller issuers in the EU and those with weaker credit quality. They will originate deals through a network of banks.
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If A1/A+ rated BASF was worried its credit rating would drop, S&P Global has given it some good news. On Thursday, the agency said it expected the chemical producer's Monday profit warning to have only a moderate impact on Its credit ratings. But a gloomy outlook still hangs over the chemicals sector, and companies in the low triple-B band may well have a tougher time in the bond market.
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Debt investors are looking at the leveraged bid for German retailer Metro AG by two private investors with uncertainty. Many questions remain about the outcome of the proposed deal, including the fate of Metro’s existing debt.
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Deutsche Bank’s strategic overhaul looks set to maintain the bank’s leading position in debt capital markets and leveraged finance. But it casts doubts over Deutsche’s ability to retain a top tier corporate finance franchise and could signal the slow death of its equity capital markets franchise, writes David Rothnie.
