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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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Shaftesbury, the UK landlord that owns a large number of properties in London’s West End, has concluded a £307m recapitalisation, which saw a high take-up from its shareholders. -
Gategroup, the Swiss airline hospitality company, has negotiated with lenders to extend the maturity on its syndicated loan facilities as part of a major debt restructuring for the Covid-battered firm.
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Zambia has become Africa’s first sovereign to default since the coronavirus started, after it failed to make payments on its Eurobonds. The heavily indebted country now faces a rocky path to debt restructuring, market sources said.
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Diaverum, the Swedish operator of kidney dialysis clinics, has launched an IPO on the Nasdaq Stockholm.
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This week in Keeping Tabs: what a Biden administration means, the people behind the BioNTech vaccine, the link between commercial property and bank equity, and a proposal for dealing with debts in poor countries.
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Hope of a Covid-19 vaccine ignited risk appetite for equity and corporate credit this week, as companies in struggling sectors enjoyed soaring share prices and printed bonds through fair value, write Mike Turner, Sam Kerr and Aidan Gregory.
