EU contemplates ‘nuclear option’ for recovery fund

The European Commission is considering a way to proceed with its €750bn coronavirus recovery fund that will exclude Hungary and Poland. The two countries have stood firm in their opposition over the idea that receipt

Houses, hydrogen and HGVs: priorities for the new UK infra bank

The UK's national infrastructure bank set to be launched by the government could focus on a range of green investment opportunities, including setting up a scheme like the US's Property Assessed Clean Energy (PACE) model.

Volkswagen ends dim sum hiatus despite tight year-end liquidity

Germany’s Volkswagen ended an absence of almost seven years from the offshore renminbi bond market this week, braving a year-end dip in liquidity to seal a Rmb1bn ($153m) deal. It offered yet another diversification opportunity

Glencore Agri taps Asia for $300m loan

Commodity trading company Glencore Agriculture is tapping the Asian loan market liquidity. It has invited banks to join a $300m borrowing.

Indofood wraps up syndication for $2bn acquisition loan

Indonesian instant noodle maker Indofood CBP Sukses Makmur has closed syndication of its $2.05bn-equivalent acquisition loan. The allocations are expected to be out in the next few weeks.

Appraisal and Merger Synergies—Right to a Refund on Prepayments

Posted by Gail Weinstein, Brian T. Mangino, and Amber Banks (Meek), Fried, Frank, Harris, Shriver & Jacobson LLP, on Tuesday, March 10, 2020 Editor's Note: Gail Weinstein is senior counsel, and Brian T. Mangino and Amber Banks

Sovereign green bonds enter mainstream despite Covid-19 hurdles

Green bonds are becoming the rule, rather than the exception, for Europe’s sovereigns with two more debuts this week. Covid-19 has delayed others from entering the market but the instruments are now well and truly

HSBC wants to take mid-market push beyond UK

HSBC might be in the middle of a big restructuring, but that isn’t stopping plans to develop mid-market M&A efforts in France, Germany and Asia as well as the UK, writes David Rothnie. The bank

CapitaLand raises Sora, Sofr-linked loan

Singapore’s property investment company CapitaLand has raised a S$200m ($146m) equivalent bilateral loan linked to both Sora and Sofr, the first of its kind in the country.

OCBC makes rare dollar outing for bank capital trade

Singapore’s Oversea-Chinese Banking Corp (OCBC) raised $1bn from a tier two subordinated note on Wednesday that was priced at a new low.

EIB loans Italy €2bn for healthcare

Italy will receive a €2bn loan from the European Investment Bank to help cover the reinforcement of its healthcare system required to deal with the coronavirus pandemic.

UK announces details of September syndications

The UK Debt Management Office has chosen the maturities and issuance windows for its two planned syndications in September. One of the syndications will be a new 15 year Gilt, which divided opinion among investors

Tianjin court orders Tewoo restructuring

Chinese state-owned commodities trader Tewoo Group Co, which has been under financial pressure for more than a year, is facing a possible restructuring.

Corrected: Shriram Transport Finance’s rights issue wrapped up

Shriram Transport Finance Co has scooped up Rp14.9bn ($199m) from a rights issue in India.

Australia announces busy 2020-21 funding programme

The Australian Treasury has unveiled its funding plans for its new 2020-21 fiscal year, funding its coronavirus response via a record number of syndications and an extension of its curve out to 2051.

China policy round-up: Sino-US relationship worsens, Beijing commits to maintaining supply chains, India bans WeChat

In this round-up, China joins a 12-country initiative to ensure supply chain connectivity, India has banned 59 Chinese apps including WeChat for being ‘prejudicial’ to its sovereignty and integrity, and tensions between China and the

The Persistent Effect of Initial Success: Evidence from Venture Capital

Posted by Ramana Nanda (Harvard Business School), Sampsa Samila (IESE Business School), and Olav Sorenson (Yale University), on Wednesday, February 26, 2020 Editor's Note: Ramana Nanda is the Sarofim-Rock Professor of Business Administration at Harvard

PLN makes return for capex loan

Indonesian state-owned electricity company Perusahaan Listrik Negara is planning a return to the market for a new $1bn loan.

Baker Bros bags $340m from BeiGene block

Baker Bros Advisors, a shareholder in Chinese biopharmaceutical company BeiGene, has raised $340.1m from a sell-down of the firm’s American depositary shares.

Sovereigns and sustainability: a natural fit

Luxembourg became the first European sovereign to publish a sustainability bond framework this week, breaking the pattern, to which Germany became a notable addition on Wednesday, of governments printing green deals. But sustainability bonds make

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