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Disruptive US economic policy has not yet dented credit appetite
High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
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Patrick Drahi’s BidFair USA vehicle has agreed to take auction house Sotheby’s private for $3.7bn, a premium of 61% to Sotheby’s closing share price on Friday. BNP Paribas has provided committed debt financing for the all-cash deal, with Morgan Stanley joining as financial advisor. -
A long-standing capital markets practitioner is leaving BNP Paribas.
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Power Construction Corp of China has raised $800m from a dual-tranche offering that keeps senior perpetual supply from Chinese state-owned enterprises (SOEs) alive.
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Green bond specialists are divided over whether proceeds of labelled green bonds can be used for operating expenditure, or whether they should mainly or entirely be used for capital expenditure.
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After Monday’s partial holiday across Europe, strong market conditions gave several high yield issuers confidence to press ahead with new issues on Tuesday. These gave investors options from investment grade-style refis to M&A trades, and executions proved strong, with International Game Technology and Aker boosting the size of their trades to take advantage of the backdrop.
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Danish wind farm operator European Energy has increased the size of its debut euro-denominated green bond, from the originally targeted €120m to €140m, on demand of more than €230m. The deal is one of only a handful of high yield issues to claim formal sustainability status, as ethical investment strategies gather pace in more corners of the capital markets.
