JP Morgan

Volkswagen has rebooted the IPO of Traton, its trucks division, after the deal was delayed in March due to volatility in equity markets caused by the ongoing trade tensions between the US and China.

The first results are emerging from the worldwide drive to get companies to think about how climate change is going to affect their businesses. Over 40% of the world’s biggest firms are now able to give an estimate of how much they expect to lose and gain. Collectively, they forecast twice as much upside as downside. But this may be optimistic, especially as the data are skewed to financial services.

JP Morgan has appointed Xavier Bindel as co-head of technology investment banking for Europe, the Middle East and Africa, as it seeks to improve its capabilities in a brisk area of business.

Adani Green Energy made its dollar market debut on Thursday, nabbing $500m with a green trade.

MasterCard ventured into volatile markets on Tuesday to print its first bond since February 2018, but investors paid the price as spreads widened.

To believe their PR, banks are now paragons of clean, sustainable economic development.

US utilities continued to dominate dollar corporate bond issuance this week, as defensive names piled into the market before trade tensions slammed the brakes on supply on Wednesday. But issuers fought back on Thursday.

The Russian sovereign could soon issue its next Eurobond, with both euros and dollars on the table. But if it does launch a deal, the move will be as much financing as it will be a political play to help defend the country from more US sanctions. Francesca Young reports.

A rough day for the corporate bond market on Wednesday did not bother Illinois Tool Works, which pressed ahead with its three tranche euro bond issue anyway. Focused on the yields, it did not mind paying higher spreads. Bankers said this was typical of the continuing wave of Reverse Yankee issuers.

The €350m listing in Amsterdam of Marel, the Icelandic meat processing machinery maker, is covered on the second day of bookbuilding, having gained early momentum partly by attracting two cornerstone orders.

The Dominican Republic’s second global peso bond issue helped it raise $2.5bn in tough markets on Wednesday via a dual currency offering.

Illinois Tool Works issued what could be the only European corporate bond of the week today, as the market takes what could be a useful rest after a week marked by a touch of indigestion and some jitters about international politics and economics.