News content

Shareholders in OW Bunker are investigating expanding evidence surrounding the Danish oil bunkering firm’s ill-fated IPO, with a view to suing the firm’s private equity seller, Altor, and the firms that worked on the listing, including its global co-ordinators Morgan Stanley and Carnegie. Olivier Holmey reports.

Two of Latin America’s best-rated credits showed there is strong appetite for the right names in spite of continued low new issue volumes from the region this week.

The annual Americas Derivatives Awards from GlobalCapital Derivatives, the new Derivatives Week, will take place on May 7, 2015. Save the date.

The US investment grade corporate feeding frenzy intensified this week as buyers snapped up more than $20bn of paper in addition to Actavis’s blockbusting $21bn deal.

One investor was seen picking up a sizeable straddle on the euro against the dollar on Thursday following a slide in the pair which resulted in the breaching of the 1.10 psychological level.

Emerging markets telecoms company Digicel will buy back $664m of its outstanding senior secured notes due 2017 after 83% of investors holding the notes agreed to tender their paper.

As loose borrower terms become more widespread in the European leveraged loan market, sponsors need to assess what protection they can give up.

A continued strengthening of the dollar and a wave of central banking announcements have muted FX options trading despite lower premiums and falling volatility.

This year’s flurry of Japanese convertible issuance continued this week with four new bonds sold outside Japan. Three were small, ¥4bn ($33m) each. The fourth, in dollars, was unusual in being a bank subordinated issue.

With euro borrowing costs at historic lows, corporate borrowers are not just loading up on duration, but pulling off eye catching short dated trades attracting rates buyers too, writes Richard Metcalf.

A handful of Russian borrowers are in serious talks about international loans, say bankers, in spite of adverse political, economic and communication hurdles.

Corporate issuance dominated the US investment grade space this week but the strong market conditions also benefited the handful of financials that ventured out.