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Hybrid capital is open to the big US tech companies. But who needs an umbrella when the sun is shining?
Years of underperformance are behind it and the bank has launched a new growth plan
Bond set to be priced at implied vol above secondaries
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Société Générale’s equities division posted a 99% year-on-year drop in revenues for the first quarter on Thursday, contributing to an overall loss in both the wholesale division and for the bank overall.
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Finnish national airline Finnair has launched a rights issue in response to the coronavirus pandemic — the first in an expected wave of large European rescue recapitalisations.
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Lloyds Development Capital, the private equity arm of Lloyds Bank, has sold a chunk of its stake in Yorkshire-based games developer Team17 after the stock hit an all-time high due to a huge increase in the volume of gamers during the Covid-19 pandemic.
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Equity collars rarely make a public appearance in Asia’s capital markets. but Citi has shone a light on the product, after using a block trade to hedge its position in a collar it had structured for a high net worth client. Bankers think the deal will drive more demand for the structure. Jonathan Breen reports.
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China said this week that it will radically overhaul the ChiNext board, approving a registration-based system for equity fundraising on the Shenzhen Stock Exchange’s start-up focused bourse. This is an important step by the regulator to shift to more market-driven capital markets ─ but plenty of concerns remain. Addison Gong reports.
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Hong Kong-listed Country Garden Services Holdings made its equity-linked debut this week, tapping investors for HK$3.88bn ($500m) with a sub-one year zero coupon convertible bond.
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