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Month: June 2020

Covid-19: Bank response bonds

Private banks are joining public sector issuers in channeling their resources towards tackling the impact of Covid-19. This table tracks the bonds that financial institutions have issued in response to the pandemic.

SURE applications roll in, but Europe still counting on Pepp

European Union member states have begun applying for loans from the bloc’s €100bn Support to Mitigate Unemployment Risks in an Emergency (SURE) package. Unlike with other European rescue lending facilities, countries seem less concerned with

Cost cuts central to Gottstein’s Credit Suisse shake-up

Credit Suisse chief executive Thomas Gottstein has brought its investment bank back together but threatens to leave it with a diminished corporate finance business, David Rothnie reports.

Ardian takes minority stake in online furniture retailer ProduceShop

The investment was made via Ardian Growth II fund, closed at €250m in 2018

Thoma Bravo to cut Sophos headcount by up to 16% due to coronavirus

None of the offices that Thoma Bravo plans to close are in the UK, the firm said

Alibaba Health seals HK’s largest follow-on in five years

Alibaba Health Information Technology navigated concerns around its lofty valuations to pull off Hong Kong’s largest primary follow-on in five years, raising HK$10bn ($1.29bn) after boosting the size of the deal. The transaction closed with

ADBC widens investor base with dim sum

Agricultural Development Bank of China’s Rmb4.3bn ($618m) dim sum bond this week brought in a record number of investors from outside of Asia, a senior treasury official told GlobalCapital China.

Private equity could help British businesses stuck with £36bn in toxic debt – report

Firms have more than £150bn of dry powder in the UK, but unlocking this capital at this scale may not be easy, according to lobby group TheCityUK

DevCo-backed VAG acquires ZMK Technologies

DevCo-backed Vexve Armatury Group (VAG) has acquired a majority stake in German valve supplier ZMK Technologies from Advanced Holdings – a Singaporean listed company focusing on engineering services and clean technologies – and the founders

China high yield real estate dominates dollar market with tightly priced deals

The resilience of China’s property market amid the Covid-19 pandemic is paying off for many of the country’s bond issuers, which have been able to reprice their secondary curves owing to strong investor support, writes

K Fund launches €70m second vehicle

Spanish venture capital firm K Fund has launched a second vehicle dedicated to early-stage Spanish statups.

China’s Tahoe on default spree as Vanke sets ‘stringent’ terms

Holders of Chinese property developer Tahoe Group’s onshore bonds had to face up to two defaults from the company this week, as uncertainty looms over whether a tie-up with its peer China Vanke Co will

BoE floats ‘temporary changes’ to capital buffers

The Bank of England has said it may be necessary to make ‘temporary changes’ to capital buffers in the UK, owing to concerns that the existing framework could discourage banks from lending during the coronavirus

Hope Education boosts debut share placement

Hope Education Group made its debut visit to the equity capital market this week, raising HK$1.2bn ($153m) after increasing the size of a primary share placement.

Livonia sells Thermory to UG Investeeringud

Livonia Partners is in the process of selling its controlling stake in Thermory, an Estonian manufacturer of thermally modified wood and sauna products, to domestic holding UG Investeeringud.

DMH acquires Pluradent

Deutsche Mittelstandsholding (DMH) has acquired Germany-based dental supplier Pluradent, following the company's self-administration proceedings, initiated in February 2020.

Alpha-backed AMF bolts on Mimest

Alpha Private Equity-backed AMF, an Italian company specialising in the production of accessories for the fashion industry, has acquired metal injection molding business Mimest.

Explore Equity acquires Nova Consulting Group

Norwegian private equity firm Explore Equity has acquired a minority stake in Nova Consulting Group, an Oslo-based IT consultancy.

Silverfleet’s Ashton leaves position as partner

Silverfleet Capital's Kay Ashton has left her position as partner.

Negative rates ‘in the toolbox’

Andrew Bailey, governor of the Bank of England, has announced that negative rates are “part of the toolbox” but that he sees no reason to make use of them yet.

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