Raiffeisen Bank International raised $ 3.8 billion in 24
bond deals last year, a greater value than any other bank in Austria, and it served as lead manager of a $ 5.9 billion Austrian sovereign bond.
HSBC is number one in M&A, equity and debt in Hong Kong, having advised its clients on 13 M&A deals worth $ 13.9 billion and raised $ 1.1 billion in eight equity deals and $ 4.6 billion in 43
bond deals last year.
Not exact matches
Late
last month, chemical company Altice had to cut back a
bond offering and increase the interest rate to 11 % on a portion of a multi-billion dollar
deal.
For me the coup de grace was the $ 1.5 billion junk
bond deal floated
last summer.
In a difficult year for emerging markets securities, DBS raised $ 4.2 billion in 48
bonds, a higher value than any other bank in Singapore, and raised another $ 1.3 billion in 14 equity
deals last year.
Manama - based GIB Capital was lead bookrunner of a $ 1.5 billion sovereign
bond issued by the government of Bahrain
last October in the country's largest debt
deal of 2013.
CaixaBI raised $ 2 billion in 12
bond deals in 2013, and, in Portugal's first IPO in five years, the Lisbon - based bank was a global bookrunner for the IPO of Portugal's postal service, CTT - Correios de Portugal,
last December.
Rand Merchant Bank, the investment - banking arm of FirstRand of Johannesburg, raised $ 2.2 billion for its clients in 50 public
bond deals, more
deals than any other bank in South Africa
last year.
In addition to raising a total of $ 22.6 billion in high - grade
bonds for Apple and T - Mobile USA
last year, Deutsche served as the go - to bookrunner for the multibillion - dollar
bonds deals of Italy, Spain other beleaguered European governments — and even the European Financial Stability Facility.
The incumbent number one in public debt in the region, HSBC raised $ 8 billion in 29
bond deals for a 17.2 % market share in 2013, leading a $ 4.1 billion
bond for the General Authority of Civil Aviation of Saudi Arabia
last September.
Playing as confidently as ever to the strength of its balance sheet, Deutsche Bank retained its number - one position in Western Europe's
bond market, where it raised $ 126.3 billion in 534
bond deals for a 7.2 % market share
last year.
KB Financial raised $ 13.1 billion in 182
bond deals for its clients in Korea, a higher value than any other bank in the country
last year.
Mandiri Sekuritas, based in Jakarta, raised $ 290 million in seven public equity
deals in 2013, and it raised $ 178.5 million in a single
bond for Indonesian toll road developer Jasa Marga
last September.
BNP Paribas advised its clients on 63 M&A
deals worth $ 61.2 billion and raised $ 37.8 billion in 158 public
bond deals — a higher overall value on both fronts than any other investment bank in France
last year.
Taking a handsome 8.8 % share of North America's
bond market, Bank of America Merrill Lynch raised $ 213.5 billion in 1,155
bond deals for its clients
last year, including the $ 49 billion Verizon Communications
deal, for which the bank was a bookrunner
last September.
Manama - based GIB Capital remained active across the Middle East in 2013 despite political strife in Syria and Egypt, leading a string of
deals including a $ 1.5 billion sovereign
bond issued by the government of Bahrain
last October and a $ 53 million rights issue for Middle East Specialized Cables in Riyadh in September.
Citi raised $ 17.7 billion in 114 public
bond deals in Latin America
last year, more than any other investment bank, including an $ 800 million sovereign
bond for Brazil that was more than three times oversubscribed.
Last summer Extell and Brookland raised a combined $ 305.5 million through on
bond offering on the Tel Aviv exchange, the first time U.S. - based developers went to the Israeli market seeking funding for domestic projects, as The Real
Deal reported.
Years after
Bonds played his
last game, the anti-steroid fervor has died down enough to allow players like Nelson Cruz to get multi-year
deals as long as he's hitting dingers.
Blofeld's inclusion in
Bond 24 has been rumoured since
last year, when EON Productions reached a
deal with the estate of Kevin McClory, paving the way for the character to reappear in the spy series.
Martin Campbell (The Legend of Zorro, Vertical Limit) returns as director of a 007 adventure, and this is his second time
dealing with a new
Bond, as well as a new direction for the series, with his
last venture being Pierce Brosnan's debut, GoldenEye, arguably the best post-Connery
Bond film (I'd give a nod to The Spy Who Loved Me).
On Wednesday, July 30th, S&P cut the credit rating on Argentina's foreign currency
bonds to «selective default» after they failed to reach a
deal with holdout bondholders from their
last default in 2001.
The
last few chapters
deal with
bond indexing and asset allocation (briefly).
My experience with huge
deals is to avoid them, unless there is some special reason to play, kind of like the
last bond deal from Household International in 2002, where I bought and then traded them away for the 3o - year non-
deal protected
bonds bigtime.
Last week Fitch Ratings and Dominion
Bond Rating Service, neither of which have rated CPDOs, said that the early
deals may be highly sensitive to small changes in the assumptions underlying them.
The S&P U.S. Issued High Yield Corporate
Bond Index yield widened only 8 bps from 5.31 % to 5.39 % on Wednesday, as again the market anticipated a
last minute
deal, only to widen further on the 31st to 5.62 % and then again on Friday to 5.84 % for a total move of 53 bps.
Considering the tremendous amounts of volatility stock investors have had to
deal with over the
last decade and the returns from holding a mix of
bonds and stocks that investors should expect to earn over the next decade, Mr. Bernstein, who passed away in 2009, would surely be making the same argument.
2) Bailout obsession — Mr. Buffett has been offered «distressed»
deals over the
last few decades from recent
deals of GS, GE,
bond insurers, etc. back to Long Term Capital Management and SB.
According to Dodd - Frank risk retention rules that went into effect
last December, sponsors and third - party investors of an asset - backed securitization are required to retain a 5 % interest in the transaction under the form of a vertical (5 % of each class), horizontal (5 % of the lowest
bonds in the
deal waterfall), or hybrid structural holding (combination of the vertical and horizontal structures equal to 5 %).