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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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CapVest has cancelled the planned sale of Curium Pharma, as market conditions wrecked the investment appetite of the three final round bidders and banks cut financing commitments. It was one of the larger M&A financings slated for syndication in the second quarter, but with the Crossover index now trading over 650bp, compared with close to 200bp when first round bids were due, the three sponsors in the final round would have struggled to get a deal away. -
The wild daily swings in equity markets and stratospheric levels of volatility caused by the Covid-19 crisis has left equity capital markets bankers with very little to do, beyond waiting for the market to find a floor when executing transactions becomes feasible once again.
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Governments in the Western world unleashed enormous spending packages this week to fight the economic effects of the coronavirus pandemic. But corporate bond investors want more.
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Chinese e-commerce giant JD.com has hired Bank of America and UBS to lead a secondary listing in Hong Kong, according to multiple sources familiar with the matter.
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An expected wave of defaults in corporate credit is driving stress in the CLO space, spurring some in the market to begin internal discussions to make their pitch to the government for greater protections.
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The Reserve Bank of Australia (RBA) and Reserve Bank of New Zealand (RBNZ) acted this week to protect their economies against the effects of the Covid-19 pandemic.
