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Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
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.
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Airbus, the European aircraft manufacturer, opened books for a three tranche bond issue on Tuesday, just over a week after raising €15bn from banks, on the assumption, its CFO said then, that there would be "no issuance in capital markets, such as commercial paper". -
The Inter-American Development Bank has added slightly to its 2020 funding programme following the announcement of a substantial lending package in response to the Covid-19 crisis.
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China’s official Purchasing Managers’ Index (PMI) recorded a sharp rebound in March as businesses slowly resumed their activity. While the strong figures led to a rally in the stock market, economists are warning against reading too much too soon into the data as challenges remain for the country’s economy.
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Latin American corporates from across the rating spectrum are taking a range of measures to protect their liquidity in the face of the Covid-19 slowdown, but analysts suggest several defaults are inevitable as the region is hit on several fronts.
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Fitch Ratings has downgraded the Maldives to B from B+ and revised its outlook to negative from stable, as the Covid-19 pandemic hits the island nation’s tourism industry.
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Hong Kong-listed Shanghai Henlius Biotech got the go ahead from its controlling shareholders on Monday for a secondary flotation on China’s Star Market.
