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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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Sri Lanka has received proposals from four different groups of banks for its latest offshore borrowing of up to $1bn. -
The underperformance of China Aoyuan Property Group’s bond on Thursday cast a shadow over new issues from Yuzhou Properties Co and Fantasia Holdings Group Co, with pretty muted responses for both deals.
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The high yield bonds electric vehicle maker Tesla sold last August dropped in the secondary market on Thursday, after its first quarter earnings showed the firm spent $1.1bn of cash during the quarter and CEO Elon Musk abruptly cut off analysts who asked questions during the company’s earnings call.
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Signal Capital Partners, the fund started by a trio of bankers from Deutsche Bank's structured finance and distressed debt businesses, has hired a chief strategist.
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Lebara, the telecommunications firm, is looking to redeem its €350m bond due 2022 early rather than list it on the Oslo exchange, after it failed to meet a deadline to produce full audited financial results. It seemed to suggest on Monday that unnamed forces were massing against it, but senior high yield bankers warned that the lightly regulated Nordic exchanges had always been likely to invite this sort of drama.
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There are two phrases that don’t often go together in the capital markets: ‘13% yield’ and ‘two year bond’. But that eye-watering funding cost was just what China’s Hydoo International Holding paid on its latest exchange offer, marking the highest yield for a dollar bond since 2015. Bankers think there will be plenty more where that came from, writes Addison Gong.
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