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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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CVS Health Corp jumped at the opportunity to conduct a liability management exercise this week, as US corporate bond issuance began to tail off amid signs of investor caution in the run-up to the year’s end.
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Qiagen, the Dutch diagnostics company, has launched the sale of a new convertible bond to refinance the unwinding of an older bond, set to mature in 2021. -
NPL specialist Balbec Capital, which purchases defaulted portfolios at risk of foreclosure using securitization structures, is expecting an increase in opportunities to buy in 2021. Current NPL stock levels could double once government stimulus runs out, said the firm.
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Mainland-based Jacobio Pharmaceuticals has kicked off the roadshow for its Hong Kong listing. It is eyeing a valuation of up to HK$10.6bn ($1.37bn).
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The aircraft ABS secondary market experienced a surge in trading activity in November for the first time since the coronavirus outbreak, particularly down the capital structure in the class ‘B’, ‘C’ and equity tranches. Sources say the activity is driven by growing hopes from some funds for a recovery in the sector, met by sellers wanting to clean their books before the year-end.
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Harbour Biomed has pocketed HK$1.71bn ($220.8m) by pricing its IPO just above the mid point of the marketed range.
