United States
-
A US pension fund has filed a class action lawsuit against ZTO Express and the banks that underwrote its $1.4bn IPO on the New York Stock Exchange last year. -
Kroger and Alimentation Couche-Tard led a flurry of issuance by dollar borrowers to exploit red hot demand for high grade paper. With the bulk of corporate America in earnings blackout, the retailers demonstrated the strength of investor sentiment.
-
Thermo Fisher Scientific announced in May that it was to acquire Patheon for $7.2bn, including $2bn of net debt. Thermo Fisher expected to finance the deal with $5.2bn of debt and $2bn of equity. On Tuesday it put a big dent in the debt figure with a €2.6bn four tranche corporate bond offer.
-
Fallen angels — corporate borrowers that lose their investment grade ratings — have become a key source of supply in global high yield bonds markets over the years. But there are signs that, particularly in Europe, such supply is ebbing away as corporate balance sheets improve. This is driving HY investors elsewhere to seek new credits.
-
Bain Capital is calling on the recent demand for lower rated high yield bonds in Europe to fund the acquisition of US cleaning products supplier Diversey Care.
-
Bank of America posted higher earnings than expected for the second quarter, offsetting a 14% drop of revenue from its fixed income trading business.
-
Thermo Fisher Scientific put a big dent in the debt it needs to raise to buy Patheon on Tuesday with a €2.6bn four tranche corporate bond offer.
-
This year's lower volatility environment took a toll on Citi’s trading profit in the second quarter, with the bank also bracing itself for higher loss expectations in retail services.
-
ANZ added to the torrent of supply by Yankee issuers exploiting US earnings blackout with a $1bn two-part offering.
-
Midstream energy company Oneok made a convincing return to the dollar market on Thursday with its first investment grade deal in two years.
-
-
Digital Realty used its Digital Stout Holding entity to sell a dual tranche sterling bond offering on Tuesday. The data solutions provider was overwhelmed with interest for its £600m deal, and will use the proceeds to rid DuPont Fabros Technology (DFT) of existing debt.
