Deutsche Bank
-
A note by law firm Mayer Brown has advised counterparties trading with International Swaps and Derivatives Association (ISDA) documentation to consider special amendments if they want their contracts to take into account the effects of negative interest rates, referencing a recent court decision. -
Iron ore firm Ferrexpo has more than doubled the size of its revolving pre export finance facility to $400m and has extended the maturity by an extra year, but lenders say Ukraine’s loan market remains only partially open.
-
Nio, a Chinese electric car company, has started sounding out investors for its IPO on the New York Stock Exchange with an indicative size of $1.8bn.
-
World Bank scored an average of 7.27 with its first euro benchmark in almost two years, with voters particularly praising the deal in the structure/maturity category.
-
Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.
-
In a quiet week for Asia’s equity capital markets, three issuers filed preliminary documents ahead of their planned share debuts in Hong Kong due to take place in the autumn.
-
US sports tycoon Stan Kroenke will use a bridge loan facility to buy metals magnate Alisher Usmanov’s 30% stake in Arsenal, to claim full ownership of the London football club.
-
Chinese firm Weimob is seeking the greenlight to float in Hong Kong, having filed a draft prospectus with the city’s bourse on Monday.
-
-
The Bank of England on Thursday raised its base rate by 25bp to 0.75%, a move that was widely expected and one that brought next to no market reaction — keeping conditions calm for what could be a record year for SSA sterling issuance. L-Bank added to that tally on the same day with a deal that came 25% above its initial size target.
-
World Bank returned to the euro benchmark market for the first time since October 2016 on Wednesday, amid an attractive euro/dollar basis swap for dollar funders.
-
Europe’s leveraged finance markets are having a hard time slowing down for their traditional summer break. Investors are willing to keep deploying cash and issuers are responding, with several deals scheduled to be priced in the next two weeks.
