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Calendar quirk could keep issuance going in December
◆ Praemia refis at a tighter coupon ◆ Schneider lands tight at the short end ◆ Minimal concessions needed
French biotech seeks to accelerate cancer vaccine program
◆ Single digit premiums offered ◆ Reverse Yankees dominating euro supply ◆ Floaters proving popular with multi-tranche issuers
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Governments have had little choice but to load up on debt to save their economies. With the crucial support of low interest rates and vast quantitative easing programmes, there is little immediate threat to debt sustainability. But as Jasper Cox reports, nothing lasts forever. -
Governments and “wealthy” private creditors in advanced and emerging economies can reduce the bilateral debts owed by the world’s poorest countries without triggering an outbreak of financial contagion, David Malpass has said.
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The Inter-American Development Bank (IADB) said on Wednesday that it would mobilise $1bn of resources to support Latin American and Caribbean countries in their efforts to acquire and distribute Covid-19 vaccines, as analysts warn most of the economic benefits from vaccinations may only reach Latin America in the second half of 2021.
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The Canada Pension Plan Investment Board (CPPIB) has taken over Manchester’s Trafford Centre after failing to find an alternative buyer. It chose to acquire the property after the collapse of shopping centre owner Intu.
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The European Central Bank told eurozone banks this week that they are free to restart dividend payments and share buybacks in 2021, so long as they comply with a number of stringent guidelines.
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Travelodge privately placed £65m of 9% four year bonds at 96, according to a statement from the issuer, following Lowell’s similar decision to tap into a firm market ahead of year-end. Shareholders Avenue Capital and GoldenTree are experienced distressed investors, actively seeking other companies wanting to raise cash at double-digit yields, but have opted for third-party money this time.
