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PE watch: J.C. Flowers' Cabot acquisition includes unusual debt provisions 
16 May 2013
The private equity secondary market is showing no signs of slowing down. On May 15, British consumer debt company Cabot Credit…
Analysis
Asian oil and gas companies go global to finance M&A  Premier Article
8 May 2013
International oil companies have been tapping global debt markets to pay their cross-border acquisition bills, as low U.S. interest rates…
Analysis
Offering watch: VCTs take on enhanced share buybacks  Premier Article
4 Mar 2013
Triple Point Investment Management has become the latest venture capital trust (VCT) to launch an enhanced share buyback…
Analysis
Corporate finance watch: Education Management Corp warns of possible going concern opinion  Premier Article
19 Feb 2013
For-profit, post-secondary company Education Management Corp (EDMC) recently warned stakeholders that it could receive a going concern opinion…
Analysis
JPMorgan "whale" report: Basel rules came too late  Premier Article
31 Jan 2013
JPMorgan Chase & Co has released its account of how the firm came to incur around $5.8 billion in losses as a result of a failed hedging strategy. The January report lays…
Analysis
Debt watch: KBC’s aggressive CoCo uncovered  Premier Article
18 Jan 2013
KBC Bank NV, Belgium’s largest bank, has revealed its proposed terms for high-trigger contingent convertible securities (CoCo) as it looks to draw from…
Analysis
The REITing is on the wall for debt markets  Premier Article
11 Jan 2013
As bank lending remains constrained, real estate investment trusts (REITs) and property companies are turning to the bond market to refinance their existing commitments…
Analysis
Capital markets 2012: equity disappoints as companies turn to debt  Premier Article
28 Dec 2012
It was a gloomy year for equity capital markets the world over, as a bleak beginning turned many shades darker. Austerity measures in the Eurozone…
Analysis
Regulatory watch: BOE and FDIC set out plans for failing banks  Premier Article
14 Dec 2012
The Bank of England and the U.S. Federal Deposit Insurance Corporation (FDIC) have released a joint paper detailing how they propose to deal with the collapse of…
Analysis
Vulture funds circle the international carcass of pari passu  Premier Article
8 Nov 2012
Vulture funds are circling after a U.S. appeals court in New York offered up the carcass of Argentina’s public debt for the picking. The court gave a standard pari passu…
Analysis
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Tesla Motors raises more than $1 billion from debt, equity 
17 May 2013
Tesla Motors has upsized its debt and equity offerings, as the electric car maker capitalizes on surging investor demand to raise more than $1 billion in cash...
News
UK pension funds take on leveraged loans in search for yield 
17 May 2013
UK pension funds are dipping a toe into the specialist market for high yielding but risky bank loans in an effort to offset poor returns in their traditional investment portfolios...
News
Securities watch: OSC offers relief from wrappers 
17 May 2013
The Ontario Securities Commission has issued a proposal to remove certain Canadian-specific disclosure requirements for offerings of foreign…
Analysis
Bankers push for Italian SME-backed covered bonds 
17 May 2013
FRAItaly needs to change its covered bond law so that the country's banks can provide cheaper funding to the small and medium-sized enterprises (SMEs) that are the backbone of the economy, bankers said...
News
Tesla motors increases convertible bond offer to $525mln 
16 May 2013
Tesla Motors on Thursday increased the size of its convertible bond and tightened price talk, according to two market sources close to the situation...
News
PE watch: J.C. Flowers' Cabot acquisition includes unusual debt provisions 
16 May 2013
The private equity secondary market is showing no signs of slowing down. On May 15, British consumer debt company Cabot Credit…
Analysis
China test-drives Basel III compliant bonds 
16 May 2013
China has authorised four small regional lenders to sell the country's first subordinated bonds that are compliant with new banking rules, testing the waters before weightier capital issuance from the biggest state-owned banks...
News
UK judge says Goldman tax deal lawful, but "not glorious" 
16 May 2013
Shares in Spain's Liberbank rose sharply after the stock began trading in Madrid on Thursday, in the first bank flotation in nearly two years as the country's lenders try to put a European rescue behind them...
News
Austria misses EU deadline to sell Kommunalkredit 
16 May 2013
Austria's Kommunalkredit [KAFINK.UL] could still be sold and does not need to be wound down, the country's market watchdog said on Thursday after Vienna missed an EU privatisation deadline for the lender...
News
Dubai bank ENBD plans bond sale to boost capital 
16 May 2013
Emirates NBD (ENBD), Dubai's biggest lender, plans to tap global debt markets for its first capital-boosting bond issue, as Gulf banks take advantage of tight pricing...
News
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Tableau, Marketo software IPOs soar to the cloud 
17 May 2013
Strong debuts in the initial public offerings of two business software companies on Friday underscored a pattern in the market: While consumer companies...
News
Tesla Motors raises more than $1 billion from debt, equity 
17 May 2013
Tesla Motors has upsized its debt and equity offerings, as the electric car maker capitalizes on surging investor demand to raise more than $1 billion in cash...
News
Morgans Hotel says twice rejected buyout bids from large hotel group 
17 May 2013
Morgans Hotel Group Co said it rejected two takeover bids from a large international hotel company in the past six months because the offer price was "not sufficiently attractive"...
News
UK pension funds take on leveraged loans in search for yield 
17 May 2013
UK pension funds are dipping a toe into the specialist market for high yielding but risky bank loans in an effort to offset poor returns in their traditional investment portfolios...
News
Securities watch: OSC offers relief from wrappers 
17 May 2013
The Ontario Securities Commission has issued a proposal to remove certain Canadian-specific disclosure requirements for offerings of foreign…
Analysis
Bankers push for Italian SME-backed covered bonds 
17 May 2013
FRAItaly needs to change its covered bond law so that the country's banks can provide cheaper funding to the small and medium-sized enterprises (SMEs) that are the backbone of the economy, bankers said...
News
IILM seeks to secure primary dealers ahead of its maiden sukuk 
17 May 2013
The International Islamic Liquidity Management Corp (IILM), which plans to issue its maiden sukuk by June this year, is facing its final hurdle as it aims to secure a network of distributors...
News
France's ID Logistics eyes acquisitions in 2013 
17 May 2013
ID Logistics wants to make acquisitions as early as this year to reach new clients at home and abroad and maintain its double-digit sales growth, its head said...
News
Philippines' Asia United Bank climbs 9.5 percent on debut 
16 May 2013
Philippine lender Asia United Bank Corp jumped as much as 9.5 percent on its market debut on Friday after an oversubscribed public offer, the first listing since...
News
Private equity 2013: strong governance helps PE portfolio companies succeed  Premier Article
16 May 2013
The success of private equity portfolio companies is often credited to their governance practices. A rationale for their...
Analysis
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Commerzbank sets terms for $3.3 bln capital hike 
14 May 2013
Commerzbank is offering shares at a deep discount in a 2.5 billion euro ($3.3 billion) capital increase aimed at repaying funds it owes to the German government and insurer Allianz...
News
Deutsche Bank: capital measures enough to cover regulatory need 
30 Apr 2013
Deutsche Bank co-Chief Executive Anshu Jain said the capital measures announced on Monday would be sufficient to help Germany's flagship lender meet stricter bank safety rules, although some of these rules are not yet finalised...
News
Russia's VTB wins sovereign backing for $3.3 bln share issue 
29 Apr 2013
Russia's second-largest bank VTB said on Monday investors have subscribed for the entirely of its 102.5 billion rouble ($3.3 billion) share offering...
News
KPN launches 3 bln euro share issue at 35 pct discount 
25 Apr 2013
KPN launched a 3 billion euros ($3.90 billion) rights issue at a 35 percent discount on Thursday to help the debt-laden telecoms firm fight tough competition and recover from a costly frequency auction...
News
Offering watch: Ophir Energy pursues the benefits of a cash box placing  Premier Article
7 Mar 2013
British oil and gas explorer Ophir Energy plc has launched a combined cash-box placing and rights issue to raise £532.1 million…
Analysis
Imtech taps shareholders for cash after writedowns triple  Premier Article
27 Feb 2013
Dutch engineering company Imtech has tripled project writedowns, forcing it to make an emergency cash call and bring forward the appointment of a new chief executive to deal with the crisis...
News
Capital markets 2012: equity disappoints as companies turn to debt  Premier Article
28 Dec 2012
It was a gloomy year for equity capital markets the world over, as a bleak beginning turned many shades darker. Austerity measures in the Eurozone…
Analysis
Regulatory watch: BOE and FDIC set out plans for failing banks  Premier Article
14 Dec 2012
The Bank of England and the U.S. Federal Deposit Insurance Corporation (FDIC) have released a joint paper detailing how they propose to deal with the collapse of…
Analysis
M&A watch: Gemfields to poach Fabergé in offshore offer  Premier Article
26 Nov 2012
Mining and marketing company Gemfields will buy luxury goods company Fabergé, in an all-share offer packed full of legal gems…
Analysis
Offering watch: Ainsworth Lumber refinancing includes a rights offering  Premier Article
6 Nov 2012
Vancouver’s Ainsworth Lumber has filed a preliminary short form prospectus in connection with the company’s proposed $175 million rights offering…
Analysis
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Morgans Hotel says twice rejected buyout bids from large hotel group 
17 May 2013
Morgans Hotel Group Co said it rejected two takeover bids from a large international hotel company in the past six months because the offer price was "not sufficiently attractive"...
News
France's ID Logistics eyes acquisitions in 2013 
17 May 2013
ID Logistics wants to make acquisitions as early as this year to reach new clients at home and abroad and maintain its double-digit sales growth, its head said...
News
Diamond miner Alrosa set for autumn share sale 
16 May 2013
Russian diamond miner Alrosa plans a share sale that could value the business at up to $15 billion and raise hundreds of millions of roubles for its local and national government owners...
News
Asia Pacific IPOs in busiest deal week since 2011 
16 May 2013
IPO markets in Asia Pacific had their best week in two years after Chinese refiner Sinopec Group's engineering unit and a Macquarie Group Ltd-linked trust raised a combined $2.9 billion on Thursday...
News
Sinopec unit prices $1.8 bln Hong Kong IPO near bottom 
15 May 2013
The engineering unit of China's Sinopec Group, Asia's largest refiner, raised $1.8 billion in Hong Kong's biggest initial public offering in almost six months, IFR reported on Thursday, citing a source familiar with the deal...
News
Suntech lenders agree to defer $541 mln bond repayment again 
15 May 2013
China-based solar panel maker Suntech Power Holdings Co Ltd, whose main unit is in insolvency proceedings, said it reached an agreement with...
News
UK's Lonrho gets buyout offer at nearly double its value 
15 May 2013
British industrial group Lonrho Plc said it received a 174.5 million pound ($266.2 million) buyout offer at a premium of 97.1 percent from a company controlled by Swiss billionaire Thomas Schmidheiny and investor Rainer-Marc Frey...
News
China Galaxy IPO raises $1.1 bln, priced for first day pop 
15 May 2013
State-owned China Galaxy Securities Co Ltd raised $1.1 billion in Hong Kong's biggest IPO in six months, pricing the offer at the low end of its marketing range as it looks for a first day pop on its debut next week...
News
China's Galaxy Sec prices IPO near bottom to raise $1.1 bln 
14 May 2013
State-owned China Galaxy Securities Co Ltd priced its initial public offering at the lower end of the indicative price range, raising $1.1 billion...
News
Failed bid for Betfair highlights public-to-private pitfalls 
14 May 2013
The collapse of the bid by private equity firm CVC Capital Partners to take Betfair private highlights how it has become increasingly difficult to pull off such deals...
News
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Securities watch: OSC offers relief from wrappers 
17 May 2013
The Ontario Securities Commission has issued a proposal to remove certain Canadian-specific disclosure requirements for offerings of foreign…
Analysis
Asia Pacific IPOs in busiest deal week since 2011 
16 May 2013
IPO markets in Asia Pacific had their best week in two years after Chinese refiner Sinopec Group's engineering unit and a Macquarie Group Ltd-linked trust raised a combined $2.9 billion on Thursday...
News
DDR to buy shopping center stake from partner Blackstone 
15 May 2013
DDR Corp owner of shopping centers where big-box retailers are located, said on Wednesday it had agreed to buy from Blackstone Group LP the portion of...
News
Breakingviews: Bigger really is better in generic drug mergers 
15 May 2013
Bigger really is better in generic drug firm mergers. Pharmaceutical company Actavis recently spurned interest from rivals Valeant...
News
M&A watch: FS Africa to take Lonrho private in rare UK takeover 
15 May 2013
Adding a spark of life to an otherwise moribund UK takeover market, FS Africa Ltd, a bid vehicle for Swiss investors…
Analysis
Breakingviews: Speech-tech firm's M&A machine could go in reverse 
15 May 2013
Over the past decade, Nuance Communications has been on a frenetic shopping spree. The $6 billion firm now encompasses businesses ranging...
News
Ashland raises dividend, buybacks after Jana picks up stake 
15 May 2013
Chemical maker Ashland Inc raised its quarterly dividend by more than 50 percent and nearly doubled its share buyback program, a month after hedge fund...
News
Deal flow slows as investors digest massive wave of deals 
14 May 2013
A handful of Asian and small domestic issuers came to the primary US dollar high-grade market on Tuesday, with valuations looking stretched and investors...
News
British Land to exit mainland Europe as economic crisis bites 
14 May 2013
Property developer British Land is looking to sell its 255 million pound ($391 million) portfolio of retail properties in mainland Europe after the assets lost almost a fifth of their value on the back of the economic crisis in Spain and Portugal...
News
Five China securities joint ventures posted losses in 2012 
13 May 2013
Five of China's overseas-backed securities joint ventures lost money in 2012, according to data released over the weekend, underlining the challenge...
News
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