North America
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Solera Holdings, the US car insurance software maker, will start on Wednesday meetings with European investors for a $2bn-equivalent bond in dollars and euros to fund its acquisition by Vista Equity Partners. -
Solera, the US insurance claims processor, held bank meetings on Tuesday in New York and Wednesday in London for a $1.9bn term loan ‘B’, backing its $6.5bn acquisition by Vista Equity Partners.
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Credit and equity markets suffered a crisis of confidence this week, with several previously crowded trades rapidly unraveling in the face of rising concerns about European banks, US Federal Reserve policy and a perceived lack of European Central Bank firepower to revitalise the continent’s stagnant economy.
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Citigroup started marketing its first yen bonds in more than two years on Thursday after mandating banks for a five year issue in global format.
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Home Depot brought some much needed relief to the dollar market this week with a $3bn print that demonstrated that investors are prepared to deploy cash for high quality names.
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Commodity Futures Trading Commission (CFTC) chairman Timothy Massad has emphasised his "commitment to protecting commercial end-users from overly onerous regulatory burdens", drawing a sharp distinction between the core users of derivatives and the activities linked to the financial crisis.
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Crude oil is Canada’s second largest export and its price collapse is forcing debt issuers to reconsider their plans, continuing a process they began last year.
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Citigroup could issue its first yen bonds in over two years this week, after mandating banks for a five year issue in global format.
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The stock of Chinese biopharmaceutical company BeiGene has shot up 18% on its first day of trading on the Nasdaq.
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Investors have been looking for ways to explain the poor performance of global banks this year. While negative interest rates in Europe and Japan have gained the attention of some, others are focused on bank exposure to the energy sector to explain low equity valuations.
