North America

Indian company Intas Pharmaceuticals is lining up banks to help it fund an acquisition in Europe and the US, turning back to lenders who helped the company pull off a successful takeover earlier this year. But this time around, it has more bargaining power. Shruti Chaturvedi reports.

Amazon priced the third jumbo M&A financing bond issue in a month in the US corporate bond market on Tuesday. The $16bn seven tranche package was the fourth-largest new issue of 2017, but the summer of 2017 could signal the high point of M&A related issuance for some time, writes Nigel Owen.

Former investment firm head Brian Quintenz was sworn in as a commissioner at the Commodity Futures Trading Commission (CFTC) on Tuesday, providing a much needed boost to the organisation's senior staff.

US plastics manufacturer Trinseo priced its new dollar refinancing bond deal with coupons more than 100bp tighter than the old notes. It is also marketing new term loans.

Global systemically important banks (G-SIBs) in the US will still have to issue billions of dollars of new bonds in 2017 to meet their regulatory requirements for long-term and loss-absorbing debt, potentially leading to a busy four months for primary market activity.

Amazon’s seven tranche $16bn new issue on Tuesday gave US investors one final jumbo transaction before an anticipated two week summer break starts next week.

Amazon provided something for all investors with a seven tranche $16bn new issue on Tuesday. Tenors ranged from three years to 40 years and new issue premiums were judged to be attractive.

Chinese live streaming platform YY has raised $402.5m after taking advantage of a surging stock price to sell a block of its American Depositary Shares (ADS).

Chinese biopharmaceutical firm Zai Lab has made its plans for a $115m IPO of American Depositary Shares (ADSs) public, filing a draft prospectus with the US regulator on Tuesday.

US private equity firms keep an eye on European deals, but their doubts over the eurozone’s future become a deterrent at times. Now that Germany and France are signalling a zealous commitment to the European project, the chance is ripe to regain their trust.

Amazon will dominate US corporate bond issuance on Tuesday when it announces a multi-tranche transaction to refinance the $13.7bn financing package put in place for its acquisition of Whole Foods.

Melco International Development is planning to spin off and list its Macau gambling and entertainment resort Studio City in the US, according to a Hong Kong Stock Exchange filing on Monday.