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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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Capital & Counties Properties, the London landlord that owns large amounts of Covent Garden, is strengthening its liquidity position by issuing a £250m bond exchangeable into shares of Shaftesbury.
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Syncona, the UK life sciences investor, has launched a new gene therapy company, through a £45m series A private fundraising round. The company could be a future candidate for a lucrative biotech listing.
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The European Central Bank revealed this week that 10 small banks would be operating below their regulatory capital requirements if they hadn’t made use of transitional support measures during the coronavirus crisis.
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The aircraft ABS market saw spreads tightening by as much as 75bp last week, driven by optimism over coronavirus vaccines, and spreads are continuing to benefit from the hope that travel will soon recommence. Despite the market’s positive reaction, sources caution that the tightening could be short-lived, as it will take longer than anticipated to see collateral performance fully recover to pre-pandemic levels.
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Hamburg Airport has launched a Schuldschein deal, following Munich Airport’s entry into the market in early October.
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Alstom, the French manufacturer of trains, trams and buses, has embarked upon its long-awaited rights issue with a fair wind behind it after the recent progress towards a Covid-19 vaccine.