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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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Sentiment is deteriorating in the financial institutions bond market amid fears of a second wave of coronavirus infections. Issuers are now expected to take a back seat until credit spreads show more signs of stability. -
Europe’s corporate bond secondary market widened on Monday, amid a far sharper sell-off in equities, and bankers say a bump in cases of coronavirus in the US and China will dampen new issuance.
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Stocks around the world fell on Monday after a spike in new cases of coronavirus were revealed in the US and China over the weekend, setting a stage for what is likely to be another busy but volatile week for European equity capital markets.
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Kangji Medical Holdings kicked off bookbuilding for its Hong Kong listing on Monday, aiming to raise up to HK$3.12bn ($404m) in proceeds.
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Burning Rock Biotech, a Chinese cancer treatment firm, raised $222.8m from its US listing last Friday. The issuer's stock soared nearly 50% on its debut, after the IPO was priced above the initial guidance.
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Hotel and casino operator Wynn Macau followed its gaming peers into the dollar bond market last Friday, but weaker market sentiment meant the borrower failed to tighten guidance on its $750m deal.
