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Month: August 2020

August auctions take brunt of increased govvie load

Governments around the world are facing heavier than usual borrowing requirements and, with the market for syndications all but shut for summer, have leaned more heavily than usual on the auction calendar so far.

Blazing euro market ready for SURE

The euro market has been on spectacular form this week, with well oversubscribed books and slight new issue premiums. The strong results sent a good signal for the arrival of the EU, which sent out

Tonka Bay Closes Fund IV

Tonka Bay Equity Partners has closed its fourth fund, Bayview Capital Partners IV LP, with $200 million of capital. Tonka Bay invests in companies that have between $20 million and $50 million of revenue and

Alvarez & Marsal Adds Aerospace and Defense Pro

Alvarez & Marsal (A&M) has added James Marceau as a managing director in its private equity performance improvement group. Mr. Marceau will be active within A&M’s aerospace, defense and aviation practice and will be based

Carrick Buys Flatiron from WeWork

Carrick Capital Partners has acquired Flatiron School, an educational provider of on-line coding skills, from WeWork. New York City-based Flatiron School is an educational institution that teaches software engineering, computer programming, data science, and cybersecurity

Kazakhstan's Kaspi covered on first day of London IPO

Kaspi, the Kazakh fintech and e-commerce firm, has attracted enough orders to cover the books on its London IPO on the first day, according to sources close to the deal.

Riverstone’s $1.8bn Fieldwood Energy investment put at risk by bankruptcy

The energy company, which US-based Riverstone first backed in 2012, sought chapter 11 protection last week for the second time in two years

Focus may be on coronavirus, but we need to talk about Brexit

Governments and central banks have had other things on their minds, but they must address the next big shock

EQT tightens pricing but concedes ticking fee on Colisée buyout

The €875m acquisition loan for EQT Infrastructure’s purchase of French care home operator Colisée will come with a reduced original issue discount and at the tight end of guidance, but the buyout firm has conceded

The week in review: US fires delisting warning to Chinese companies, Treasury sanctions Hong Kong leader, TikTok threatens to sue Trump administration

In this round-up, the US once again threatens to delist Chinese companies from American stock exchanges, the Treasury department imposes sanctions on 11 government officials in Hong Kong, including the chief executive of the special

Ke Holdings launches $2bn NYSE listing

Ke Holdings has kicked off bookbuilding for a $2bn US listing. But it has come as one of its largest shareholders, internet giant Tencent Holdings, was blindsided by the US with sanctions.

CSRC loosens rules for company bonds

The China Securities Regulatory Commission has published new rules for issuers of ‘company bonds’, offering a clearer timeline on the registration process. It also scrapped a credit rating requirement and lowered the bar for retail

E.House, Beijing Properties turn on the taps

Chinese developers E.House and Beijing Properties closed taps to outstanding dollar bonds at the end of last week, raising $250m between them.

XPeng charges up $100m US IPO

Chinese electric vehicle manufacturer XPeng is aiming to raise up to $100m from a listing on the New York Stock Exchange.

K-pop shop aims for smash hit IPO

South Korea’s Big Hit Entertainment, manager of K-pop boy band BTS, has won early-stage approval for its IPO.

KazMunayGas goes for dollars after lengthy roadshow

Kazakhstan’s state-owned oil company KazMunayGas raised a dollar bond on Wednesday, after what some investors described as a lengthy roadshow. KMG is the latest in a string of Kazakh borrowers that have come to capital

Market participants back Green+ Gilt proposal for sustainable Covid-19 recovery

A group of some of the UK's biggest asset managers, professional bodies and banks are supporting a proposal for an SRI themed UK sovereign debt product to deliver environmental and social benefits as part of

Kester Capital closes second fund on £90m

UK-based SME primary buyout investor Kester Capital has held a final close for Kester Capital II on its hard-cap of £90m.

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