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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 violent sell-off across financial markets this spring turned many investors’ positions upside down. Those without proper hedges in place were at best left embarrassed and at worst forced to shut up shop. Despite central banks once again intervening, plenty are finding reason to be cautious. Ross Lancaster investigates what lessons, if any, market participants have learnt from the meltdown.
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London's investment bankers are getting to grips once more with the UK government's guidance on coronavirus, after it said on Tuesday that office workers should work from home, if possible. Banks had slowly been inviting more staff back into London offices in recent months while the government had also been urging people to get back to the office.
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The UK government’s sudden volte face this week about working from home may slow coronavirus infections but it betrayed a fundamental lack of strategic thinking and stability over the most pressing concerns. That should worry the City, which is in a fight for its future as a leading financial centre, as a result of Brexit.
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JD Health International, the healthcare arm of Chinese e-commerce firm JD.com, is set to list on Hong Kong’s stock exchange by the end of the year.
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Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.
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Fresenius, the German healthcare company, pushed ahead with a €1bn dual tranche no-grow trade on Monday, despite an issuer in another sector pulling its deal as wider markets plummeted.