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First-of-its-kind opinion lays out World Bank, ADB and shareholders’ obligations under international law
Rocketing AI infrastructure spend set to drive more US tech giants to Europe for funding
Suspension of Council of Ethics lays bare difficult choices
Issuer sees use-of-proceeds label as 'perfect tool' to beef up its support to defence sector
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Malaysian oil and gas company Petroliam Nasional (Petronas) made its mark on the dollar bond market on Tuesday, raising $6bn from a deal that received orders of $37bn at its peak. This was despite a ratings outlook change to negative this week and headwinds from the Covid-19 pandemic and volatile oil prices. -
The World Bank’s pandemic bond is still yet to trigger and pay out to support poor countries. This appears to be because of the slowdown in new reported Covid-19 cases in China since February.
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Adani Transmission has raised a further $90m US private placement, according to market sources, after it became earlier this year the first Indian company to raise debt in the market since 2007.
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The UK's Imperial Brands, formerly Imperial Tobacco, has signed a new €3.5bn three year multi-currency revolving credit facility, slightly increasing its main bank line, despite not having plans to draw down.
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S&P Global Ratings said on Monday that it has placed 25 tranches from 15 CLOs with high exposure to energy sector obligors on ratings watch negative.
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Many investment banks are circulating orders for bankers not fund any committed debt transactions in the aircraft sector, including ABS deals, a decision spurred by market volatility from Covid-19. On top of restrictions on in-person meetings, macro factors such as city lockdowns and travel bans are putting a damper on the new issue pipeline.
