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Offer came as markets recovered and volatility fell
Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
Eight banks provided loan facility to company
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Ryanair left parts of the corporate bond market ‘gobsmacked’ on Tuesday, as the first benchmark-sized new issue from an airline since lockdowns from Covid-19 battered the sector managed to reprice the issuer’s curve. -
Messe Frankfurt, the German trade fair company, has signed a €150m loan facility, as it begins holding physical events again after they ground to a halt in the first half of 2020.
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At least 12 Argentine provinces are either deep in restructuring talks with bondholders or are preparing to begin negotiations. But as Argentina’s finance minister Martín Guzmán calls for regional governments to renegotiate their debts in line with the federal government’s sustainability guidelines, investors are unlikely to grant the same level of debt relief they agreed with the sovereign.
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Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds almost $400bn of assets under management, has played a critical role in maintaining financial stability during the coronavirus pandemic. Alireza Zaimi, head of corporate finance at the PIF, tells GlobalCapital how the fund weathered a commodity shock of unprecedented proportions, how the crisis has shaped its investment choices, and how its funding strategy has held up.
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Icelandair, the flag carrier airline of Iceland, has gained the final major approval it needs for a government-backed loan, setting up the company for an imminent share sale and loan funding totalling about $247m-equivalent.
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Center Parcs has launched a refinancing of its class ‘B’ debt, taking advantage of better sentiment and a resumption of holiday bookings in its UK locations to push out a 2022 maturity in its subordinated debt.
