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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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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. -
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.
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Politicians across Europe are interested in the idea of the European Central Bank writing off the government bonds it holds, but this looks tricky and potentially not so useful after all.
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Political volatility might finally be biting in Peru, with Fitch putting the country's rating on negative outlook.
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Europe’s corporate bond investors are starting to make bets that industries battered by the coronavirus pandemic and crossover-rated names are going to be the performers of 2021, even though speculative grade defaults reached a post-global financial crisis high in November.
