IFR's daily digest of views & news for capital markets professionals
German businesses are spoilt for choice when it comes to borrowing, argues Keith Mullin.
Burger King’s US$11bn deal to buy Canadian coffee chain Tim Hortons is the latest in a string of bumper merger and acquisition transactions that have reignited advisory fees for banks after a six-year drought.
An IFC financing programme will do more for India than its prime minister’s dress sense.
Following years in the doldrums, euro inflation swap markets suddenly find themselves centre stage ahead of the European Central Bank’s meeting this week after Mario Draghi cited the five-year/five-year forward as the metric the central bank uses to define medium-term inflation in the currency bloc.
(Reuters) - Emirates NBD (ENBD), Dubai’s largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said on Monday, looking to take advantage of favourable markets to strengthen its reserves.
The European corporate market is warming up ahead of the expected September rush, with one deal pricing and a handful of borrowers adding to the pipeline.
Phones 4U’s deeply subordinated payment-in-kind note lost more than 50 points on Monday after the UK phone retailer announced that key partner Vodafone would not be renewing its network agreement.
September may be one of the busiest months for the rupee corporate bond market. State-run Power Grid Corp of India is likely to kick-off the month with a minimum Rs9.96bn (US$164.7m) sale tomorrow. Bids are called for noon India time. The sale has an unspecified greenshoe option.
Chinese e-commerce giant Alibaba Group is now looking to launch its NYSE IPO next week, instead of right after today’s Labour Day holiday, according to a source familiar with the situation.
New World Resources is holding a make-or-break restructuring meeting with bondholders on Friday afternoon, but the total lack of consensus in the secondary bond market indicates the level of uncertainty on the outcome.
Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
Hong Kong Airlines intends to offer retail investors free flights in an attempt to drive demand for the city’s first dual-currency IPO.
An anticipated deluge of bank capital bonds from China’s biggest lenders is expected to change the makeup of Asia’s G3 high-yield market, as investors sell PRC property credits in exchange for similarly yielding Additional Tier 1 securities.
The strong response to Xiaomi’s US$1bn three-year loan is already drawing comparisons to Alibaba Group’s loan-market debut two years earlier, except that PRC smartphone maker has achieved tighter pricing.
A unit of billionaire Paul Singer’s Elliott Management, which is Argentina’s main holdout creditor, is extending its legal fight with the South American nation to China.
Chinese regulators are working with insurance companies to establish a framework to sell catastrophe-linked bonds, securities designed to help insurers pay for losses from natural disasters, such as the earthquake in Yunnan Province in early August.
A central bank ban on Indian lenders buying new issues of infrastructure bonds has dented Prime Minister Narendra Modi’s chances of obtaining billions of dollars for mega-projects through the related market.
Hong Kong blue-chip companies are looking beyond traditional funding sources to tap US dollars and take advantage of deep liquidity in the largest bond market before rates rise.
Unrated foreign issuers have been pouring into Singapore to take advantage of a yield-hungry investor base, but a local firm’s expected default on its bond threatens to shut off the flow.
Demand for bonds from Chinese asset-management companies is growing steadily as stellar secondary-market performances make offshore investors become more comfortable with the so-called “bad bank” sector.
Thai banks are rushing to raise bank capital to take advantage of existing low interest rates and an investor base flush with cash, even if they do not immediately need to build up a financial cushion.
A growing number of foreign and domestic banks are pricing Australian dollar bonds with tenors beyond the country’s traditional five-year sweet spot to attract yield-hungry investors.
China sent shockwaves through the mainland IPO market last week, when it banned dozens of investors from participating in new listings for up to a year.