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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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US companies sold $19bn of new convertible bonds in June as the rush to tap the market for financing during the Covid-19 global pandemic continued, with little sign of slowing down. -
The Hashemite Kingdom of Jordan and Hikma, a Jordanian company listed in London, hit screens this week, raking in cash and proving appetite for credits along the rating spectrum.
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The UK government allowed the growth of the non-bank sector after the global financial crisis, but during the coronavirus pandemic, it has left it to fend for itself.
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Fiat Chrysler Automobiles, the Italian-American crossover-rated car company, launched €3.5bn of bonds into the market on Tuesday, days after its Italian arm had agreed €6.3bn of bailout funds guaranteed by Italy.
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Ares Management Corporation has agreed to extend a covenant waiver on its securitization financing for Non-Standard Finance (NSF) after initially giving the lender until June 29 to find alternative funding.
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Weir Group, the UK engineering company, has signed bank lines totalling $1.19bn, but amid coronavirus-related market volatility, banks required a higher margin than on the deal being refinanced.
