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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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EasyJet, the UK budget airline, has signed a $1.87bn-equivalent liquidity facility backed by the UK’s export credit agency, the second such guarantee it has given in recent weeks. -
Gracell Biotechnologies has raised $209m from its Nasdaq IPO after increasing the size of the float and pricing the deal above the initial marketed range.
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Hong Kong-listed Hansoh Pharmaceutical Group and China Hongqiao Group have added to the burst of convertible bond activity in the first week of 2021, raising a combined $900m from the equity-linked market on Thursday.
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Lagardère, the French book publisher and travel retail company, has signed a €465m short term government-backed loan and extended its revolving credit facility, as the company shuffles its loan liabilities amid a plunge in revenue.
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UK stationery retailer Paperchase has submitted a notice of intent to appoint administrators, as it struggles to cope with the effects of lockdowns and disruption to Christmas sales.
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With rising Covid-19 infection rates sparking new social restrictions, Europe’s high grade loans bankers say they are ready to once again provide the vast amounts of short term funding to corporates they did last March as lockdowns swept Europe for the first time. But many expect borrowers to lean more heavily on the bond markets this time.
