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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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Underwriting revenues fell for Credit Suisse in the second quarter, it said on Wednesday, although fixed income trading and sales was a bright spot in its results. -
China Lesso Group Holdings has mandated nine banks for a $900m loan.
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Porsche AG, maker of Porsche sports cars, closed a green Schuldschein this week, with pricing and allocation set for Friday. The final size is rumoured to be €1bn, with an order book far exceeding that.
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Andrew Hollingworth, a portfolio manager at Holland Advisors and shareholder in Sports Direct, has urged Mike Ashley, the sports retailer’s owner, to pay more attention to corporate governance. But had Hollingworth known about the US private placement market’s experience of dealing with Ashley — in this case over debt owed by one of his other businesses, Newcastle United FC — he might have campaigned for it even more strongly.
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Pfizer has agreed to spin off its off-patent drug business Upjohn and merge it with generic drug company Mylan, in an all-share deal that will still see $12bn of debt raised.
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US company International Game Technology (IGT) has amended and extended its bank credit lines, with the gaming company stretching out the maturity but cutting the total amount available on its dollar and euro denominated debt.
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