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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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Finnish national airline Finnair has launched a rights issue in response to the coronavirus pandemic — the first in an expected wave of large European rescue recapitalisations. -
Robert Bosch, the German engineering group, has signed a €3bn revolving credit facility, as lenders warn that smaller companies in the same industry will find it harder to get financing.
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The Republic of Lithuania joined the ranks of top tier emerging markets issuers proving their access to bond markets in the teeth of the coronavirus pandemic on Tuesday, as it broke its issuance record with a €2bn dual tranche trade.
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A dramatic collapse in the price of oil has forced banks to take a hard look at their lending to companies in the industry. Syndication bankers in Asia told GlobalCapital this week that they plan to reduce their exposure to the sector, and to demand higher returns for the loans that they do accept. Pan Yue reports.
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Fitch Ratings has lowered Italy’s credit rating one notch to BBB- on Tuesday night, making the move more than two months ahead of its scheduled review in July.
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Barclays’ revenue from markets in the first quarter was its best ever, the bank said, but another large figure overshadowed this: credit provisions across the group came in at more than double the consensus estimate, on the basis of macroeconomic assumptions seen as conservative and a £300m hit from low oil prices.
