IFR 03.7.2020

(Ann) #1

Contents


MARKETS^ has emergency surgery; Daniel Pinto and Gordon Smith take charge.


  - International Financing Review March
- MARCH 7 2020 ISSUE INTERNATIONAL FINANCING REVIEW


  • TOP NEWS

  • Atlantic were back humming last week in spite of further volatility. BONDS Back in the groove Investment grade primary markets on both sides of the

  • Traders now working at remote sites as coronavirus precaution. PEOPLE & MARKETS Preparing for the worst From Croydon to Romford, banks get ready.

  • Record trading volumes, but liquidity concerns persist. PEOPLE & MARKETS Stress test Coronavirus is greatest test yet of post-crisis bond market liquidity.

  • Automaker seeks to put controversial past behind it. BONDS Shaking off “dieselgate” Volkswagen fires up green financing.

  • Back with a bang Lenders join Thai shopping spree with US$10bn Tesco loan.

  • Keeping the faith Global investors pile into SBI Cards’ Rs103bn listing.

  • Ahead of the game Convertible bond issuance surges as other markets suffer.

  • Forced delays Bankers resigned to quitting IPOs for lent.

  • PEOPLE & Standing in Dimon health scare restarts succession talk. JP Morgan CEO

  • considering whether they can change the terms due to the coronavirus turmoil. Backtracking Buyers that have agreed deals but not yet completed them are

  • and former New South Wales premier, has quit the bank. Bailing out Mike Baird, National Australia Bank’s head of consumer banking

  • Changing assumptions Tier 2s set for downgrades under new Fitch Ratings criteria.

  • Named Argentina has mandated Lazard, Bank of America and HSBC on its restructuring plan.

  • Environmental pressures ESG impact on CDS stronger for developed sovereigns.

  • BONDS Infected Volatility returns to Italy debt. Bonds sell off but no signs of distress.

  • Swiss Francs VorHyp gets green light for bond. 35 EMEA JLR looks to weather coronavirus storm.

  • EMERGING Spooked Issuers freeze as volatility takes hold.

  • MARKETS China HNA Group calls in state support.^56 Flurry High yields keep Asia credit open.

  • LOANS Eager for change British American Tobacco ready for Libor switch.

  • China Tsinghua Unigroup struggles with A&E. 65 HP bid Xerox adds banks to US$24bn loan.

  • EQUITIES Spin-offs Chinese construction groups are seeking to monetise their businesses.

  • Germany Permira sells 11% of surging TeamViewer. 81 US ECM left with nowhere to go.

  • STRUCTURED Making a splash BridgeBio races from IPO to US$475m-plus convertible bond.

  • EQUITY Care sector Korian jumps on market rise.^88 US Infinera determined to term out borrowings.

  • 3 IFR Contents 2323 p 3 .indd 3 06 / 03 / 2020 20 : 04 :

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