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Shipping company issues new shares as it raises stake in peer to roughly a fifth
Investors want more mid-cap deals and wider variety of sectors
Cornerstone investors commit roughly €170m as company aims to raise €300m
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Pfizer has agreed to spin off its off-patent drug business Upjohn and merge it with generic drug company Mylan, in an all-share deal that will still see $12bn of debt raised.
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LG Display has hit the market with a convertible bond of up to $700m, according to a term sheet seen by GlobalCapital Asia.
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Chinese robotics company CloudMinds has taken its foot off the pedal for its New York Stock Exchange IPO, initially expected around this week, and is instead waiting for less volatile global capital markets, according to sources close to the deal.
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Beijing Kunlun Tech is revisiting plans to list gay dating app Grindr after winning approval for the IPO from a US national security panel, according to a stock exchange filing from the parent on Monday.
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The London Stock Exchange Group declared on Monday it is interested in buying market data and infrastructure firm Refinitiv for $27bn, a purchase that would give it added clout in data and analytics. Refinitiv’s bonds — notorious in the high yield market for their structure — and LSEG’s shares moved up on the news.
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The European Central Bank’s openness to further cuts in interest rates after its meeting last week should be supportive for equity markets and should be beneficial for capital markets transactions after the summer, equity capital markets bankers believe.
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