Goldman Sachs
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Equity-linked bond issuers are often the most quixotic group among equity capital markets issuers — the market is frequently marked by sudden droughts caused by lack of deals, despite strong market conditions, as happened this spring.
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The bookrunners on logistics company Best’s potential $1bn US IPO have kicked off pre-marketing, according to a banker working on the deal.
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The European Financial Stability Facility (EFSF) picked up €2bn with a 23 year bond on Tuesday, paving the way for other top-flight borrowers to bring their own euro deals.
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A former Goldman Sachs banker has decided to come out of retirement to join Standard Chartered in a senior management position.
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LafargeHolcim on Tuesday became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, with order books more than three times subscribed.
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Six corporate investment grade borrowers took home a combined $3.75bn as the US dollar market finally took a breather for the summer after the breakneck pace of issuance for the month so far.
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Two deals were priced this week in the European corporate bond market, and next week already looks busier. With a roadshow under way and four others coming up, the window before September’s European Central Bank meeting looks full.
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China Jinmao Holdings Group returned to the market on Thursday with a tap to a bond it sold in June, hoping to reach its regulatory cap of $500m.
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Cromwell European Real Estate Investment Trust was set to begin investor education for a potential S$1.6bn ($1.2bn) Singapore IPO this week, according to a source close to the deal.
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When the mighty fall, or at least stumble, everyone enjoys putting the boot in. So it is with Goldman Sachs, when the bank reported a second straight quarter of underperforming its peers in the FICC business.
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Credit Suisse’s decision to ban trading in certain Venezuelan bonds is understandable, but ultimately raises more questions than it answers.