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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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Local government bond issuance in China had a record start in 2020, until the Covid-19 outbreak put a dent in the pace of deals. While new transactions announced by a number of provinces this week have signalled a revival, bond issuance alone may not be enough to fill a gap in governments’ funding needs. Addison Gong reports. -
Apple’s announcement that it is likely to miss revenue estimates for the first quarter of 2020 should serve as a warning to equity investors that the economic effects of the coronavirus outbreak should be feared alongside any threat of it becoming a pandemic.
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Australian healthcare business Genesis Care is borrowing A$1.4bn-equivalent to fund the buyout of 21st Century Oncology’s US business, giving loan investors a rare chance to put money to work at a spread north of 400bp.
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In this round-up, China could face a downgrade to its sovereign rating, Hong Kong’s finance secretary expects a “tsunami-like” impact on the economy from the Covid-19 outbreak, and the Chinese securities regulator relaxed rules on stock issuance.
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In this round-up, the number of novel coronavirus infections increased by 14,840 in a single day after the Hubei province changed its diagnosis methodology, China has put the former mayor of Shanghai in charge of Hubei amid the prolonged outbreak, and regulators have given the green light to MasterCard’s long-awaited entry to the Mainland market.
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Asia’s credit markets have held up well despite the news around the spread of the novel coronavirus, with another spate of Chinese issuers pricing bonds that proved a hit with investors.
