Goldman Sachs
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Welcome to ByteMe, GlobalCapital’s new column, providing an informed, critical and irreverent take on the newest and biggest issues in technology — specifically the bits of it involved in moving money around. -
A solitary syndication from KfW broke the otherwise placid waters of the public sector debt market on Wednesday.
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German car company Daimler raced from one side of the Atlantic to the other this week to raise €6.7 equivalent from 10 tranches of bonds with tenors from two to 10 years.
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The Republic of Angola raised $3bn this week with its first Eurobond since 2015, after a juicy yield and a positive narrative about reform in the country enticed investors to place $9bn of orders.
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The US bank is doing it differently from its rivals as it expands in corporate broking in an effort to expand its client base and boost its standing in ECM. It might just shake up the established order, writes David Rothnie.
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Xiaomi Corp set its $10bn IPO in motion this week with an initial filing to the Hong Kong Stock Exchange. The move is a big win for the city, as the Chinese smartphone maker will be the first high-profile issuer to make use of Hong Kong’s new listing rules that allow founders to control a company with weighted voting rights (WVR). John Loh reports.
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A solitary syndication from KfW broke the otherwise placid waters of the public sector debt market on Wednesday.
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The Republic of Angola has released initial price guidance for its dual tranche bond, which a banker away from the deal said looked generous.
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Huya, a live streaming platform backed by YY and Tencent, has started bookbuilding for its up to $180m IPO on the New York Stock Exchange.
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GTT Communications, the US cloud networking provider, has mandated banks to arrange a dollar and euro loan of $2.87bn-equivalent for itself and a Dutch subsidiary. The deal will only go through if it completes its acquisition of Luxembourg’s Interoute.
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Despite expectations of a slowdown in the pace of issuance in the European high yield market, two borrowers brought €2.9bn of new bonds this week. Both issuers, Spanish construction firm Aldesa and Italian banking payments group Nexi, marketed refinancing deals.
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Bankers do not expect Moody’s downgrade of Angola last week will have any bearing on the price of the new issue, which is expected on Wednesday.
