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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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Bank of Italy officials said this week that the country’s most fragile financial institutions might struggle to cope with the economic impact of the coronavirus pandemic, raising the prospect of consolidation within the banking sector. -
Informa, the UK publishing and events company, has taken the decision to suspend its dividend and raise £1bn of fresh equity after the Covid-19 pandemic caused hundreds of its conferences to be postponed.
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Several CLO issuers have been sounding out the European sector in recent days in the hope of issuing a deal, with Permira Debt Managers and Oaktree Capital both said to be marketing transactions.
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Agence France Trésor, the French sovereign debt office, has published a second draft budget bill for 2020, which will see it issue much more debt than previously announced.
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Santander and Deutsche Bank in Spain have structured the first Cédulas deals to be issued under the Cédulas de Internacionalización legal framework designed to finance export finance loans. The deals are likely to be retained for central bank repo purposes and emerge amid a huge expansion in retained covered bond volumes after the European Central Bank recently cut repo valuation haircuts.
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Saudi Arabia followed neighbours Abu Dhabi and Qatar to the international bond markets on Wednesday, achieving a $7bn deal that was nearly eight times subscribed.
