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Category: Software and Hi-Tech

Software development platform Postman hits $2bn valuation through Insight Partners-led round

API development platform Postman has soared to a $2bn valuation thanks to a Series C investment round led by private equity and venture capital firm Insight Partners.

Apollo sues Serta Simmons and owner Advent over debt dispute

Loan litigation pits hedge funds against mutual funds

Digital workplace comms, workflow service Spike gets Insight Partners backing

Digital workplace communications and workflow tool provider Spike has picked up backing from Insight Partners amid the launch of a new suite of offerings.

IFC shifts ESG focus onto banks with new dealer scorecards

The International Finance Corporation (IFC) has launched the first systematic process by an issuer to formally integrate environmental, social and governance (ESG) considerations into choosing its bookrunners. Senior funding officials and sustainability bankers have welcomed

SRI bond frameworks could come after deals

Participants in the sustainable bond market are considering allowing issuers to publish their sustainability frameworks after issuing bonds, instead of before. This would be a major change in market practice.

Croatia takes €2bn in one swoop as investors scramble for paper

The Republic of Croatia benefited from a tightening euro market on Wednesday, as it printed a €2bn 1.5% June 2031 bond on the back of orders 4.5 times that amount.

People moves in brief

NatWest Markets names CEO and CFO — Natixis appoints new managers for UK and Middle East — Barclays' private capital markets boss leaves

Flood of euro supply causes periphery widening

A deluge of euro paper hit the SSA market this week as issuers flocked to the market to take advantage of the surge in confidence after the European Central Bank’s expanded its pandemic emergency purchase

Bankers mull future of keepwell bonds

The debt restructuring at China’s Peking University Founder Group is set to be a test case for offshore bonds backed by keepwell agreements, a structure often favoured by many mainland borrowers. The outcome of the

Philippine port company locks in $400m

International Container Terminal Services (ICTSI) raised $400m in the international bond market on Wednesday despite the Covid-19 pandemic challenging the Philippine issuer’s transaction.

JD.com to pocket $3.9bn from bumper HK listing

Chinese e-commerce company JD.com is set to raise HK$30.1bn ($3.87bn) from its Hong Kong secondary listing, according to a source familiar with the matter.

Mengniu milks investors for $800m

China Mengniu Dairy Co hit the debt market straight after a profit warning, but still managed to attract investors to its $800m dual-tranche bond, tightening pricing on both portions by 80bp.

China’s 58.com eyes $3bn for take-private, but loans bankers prove reluctant

Chinese online marketplace 58.com is seeking a $3bn loan for its take-private from the Nasdaq. The company is relying on Chinese banks to raise the money, but several told GlobalCapital Asia they were not interested.

HSBC, StanChart under fire over HK security law support

HSBC and Standard Chartered are facing a backlash from investors and politicians after publicly supporting China’s planned security law for Hong Kong.

IPO hopefuls rush for approval as second half looms

Hong Kong’s IPO market is gearing up for a busy few weeks as companies push for listing approvals before the end of June, with bankers and investors remaining bullish on the city’s stocks. Jonathan Breen

Radiance and Powerlong add to debt coffers

Chinese property companies continued to pile in to the dollar bond market on Wednesday, with Radiance Group Co and Powerlong Real Estate Holdings using up their remaining fundraising quotas.

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