Goldman Sachs
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Megvii Technology, a Chinese artificial intelligence (AI) company best known for the facial recognition platform Face++, has set the ball rolling for its dual-class share listing in Hong Kong. -
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Banks like Goldman Sachs have positioned corporate broking as part of a wider, integrated offering to clients — a strategy that appears to be the future of this traditional UK line of business, writes David Rothnie.
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A $170m loan supporting Blackstone’s acquisition of Essel Propack (EPL) has been launched into general syndication, attracting two lenders already.
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The dollar SSA market was ablaze on Tuesday, with five deals on screen offering small new issue premiums and gaining chunky demand across the maturity curve.
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KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.
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Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.
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Danish agency KommuneKredit mandated banks on Monday for its first euro-denominated bond of the year and the first euro syndicated public sector bond since mid-July, excluding German regions.
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The US corporate bond market continued to crank out investment grade deals despite fears of a global recession battering risk assets this week.
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Market participants are confident that FIG issuance will pick up next week but there are concerns around secondary performance. They are likely to pay close attention to how this week’s deals from Goldman Sachs and Credit Suisse fare before marketing their own.
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London football club Tottenham Hotspur FC has entered the US private placement market, looking for £350m to partly pay off bank loans generated from the construction of its new stadium.
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Goldman Sachs was set to price a new euro-denominated bond on Wednesday, the first unsecured transaction from a financial institution in about two weeks. With demand peaking at €2.7bn, the issuance could encourage other issuers to follow suit.
