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Hybrid capital is open to the big US tech companies. But who needs an umbrella when the sun is shining?
The bank has been added to DNB's list of registered covered bond issuers
Issuance will be lower in June as yields rise
Amazon’s Swiss debut and Alphabet’s first yen deal jolted debt markets this week
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Siberian Coal Energy Co (Suek) is seeking financing from lenders, according to two market sources. The borrower is braving lenders' wariness about coal companies, which last year weighed on demand for a Suek loan, and the global volatility caused by the spread of the Covid-19 virus. -
The US CMBS market, with its heavy dependence on corporate tenants to keep the cash flows to bond holders coming, is being buffeted by the turmoil stemming from the crisis in recent weeks, with the market exposed across dozens of deals to two particularly ailing sectors — airlines and oil and gas firms.
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Sasol, the South African chemicals company, has unveiled a $6bn package of measures designed to shore up its business, which has been damaged by the spread of the Covid-19 virus and the collapse in oil prices.
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Premier Oil’s stock surged by more than 65% on Friday after the company gave an update on its cash position following this week’s equity market slump, a positive for the banks working on its rights issue. However, the deal also hinges on a court case in Scotland.
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British American Tobacco has signed the first multicurrency revolving credit facility that uses a variety of risk-free rates as benchmarks, potentially clearing a hurdle that loan market participants have long said was hindering the transition from Libor.
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Aston Martin, the troubled UK car maker, was set to launch a rights issue process next week, but severe equity market volatility means that the company’s shares are now trading below the subscription price in the capital raise. Sources are now questioning whether a deal is viable.
