Global news and insight for corporate financial professionals
HIGH-YIELD DEBT HAS RECORD QUARTER By Gordon Platt The volume of global corporate high-yield debt issues reached $75.5 billion in the first three months of 2010, breaking all quarterly records, according to Thomson Reuters. The total was up ...
DERIVED VALUE Global Finance brings together a group of industry leaders to discuss the prospects for the exchange-traded derivatives market. Moderated by Joseph Giarraputo Global Finance: The global financial system has come through a near-death experience. ...
COVER STORY: CORPORATE DEBT A gargantuan wall of debt coming due over the next few years could impede all but the highest-rated corporations’ efforts to refinance their debt. By Jonathan Gregson Just as the United States and ...
EMERGING MARKETS M&A; RISES SHARPLY By Gordon Platt Mergers and acquisitions involving companies in emerging markets more than doubled in the first quarter of 2010 compared to the same period a year earlier, reaching $183 billion, according to ...
BANKRUPT MALL OPERATOR WEIGHS OFFERS By Gordon Platt Simon Property Group, the largest US mall operator, is seeking to take over rival General Growth Properties and take it out of bankruptcy. The battle of the mall operators has ...
BRIC COUNTRIES TO LEAD CAPITAL RAISINGS USING DEPOSITARY RECEIPTS IN 2010 By Gordon Platt If central banks and government agencies around the world can exit accommodative monetary and fiscal policies smoothly, 2010 could be a good year ...
HIGH-YIELD DEFAULT RATE COMING DOWN By Gordon Platt The high-yield bond spread over US treasury securities is narrowing in anticipation of a steep decline in the default rate for below-investment-grade companies. Once the corporate sector is capable ...
BACK FROM THE BRINK The revival of interest in equity derivatives reflects a broader return of risk appetite among corporations and investors. By Laurence Neville The recovery in sentiment in most markets during 2009 was dramatic, and ...
Cross-Border M&A; Ready For Takeoff, With Emerging Markets As Main Target By Gordon Platt The stars are aligned for a substantial rise in cross-border mergers and acquisitions this year, as the global economy recovers and financing becomes more ...
High-Yield Market To Come Down To Earth By Gordon Platt The high-yield bond market had its best year ever in 2009, with an overall return of 55% that beat most other major asset classes. However, analysts expect the ...
Shanghai To Pass Hong Kong In 2010 IPOs By Gordon Platt China and Hong Kong are leading the global recovery in initial public offerings, with the Shanghai Stock Exchange expected to overtake the Hong Kong exchange as the ...
Credit Where It’s Due As governments around the world contemplate reeling in the financial lifelines that helped them prevent a global systemic meltdown, the prospects for credit growth in the coming decade are still unclear. By Antonio Guerrero ...
Emerging Markets Take IPO Lead Role By Gordon Platt Companies based in China and Brazil led a global rebound in initial public offerings in the second half of 2009, and emerging markets are likely to continue to ...
CORPORATE FINANCING NEWS — CORPORATE DEBT HUNT FOR YIELD TO CONTINUE IN 2010 By Gordon Platt Investors will continue to seek higher returns than will be available on treasury notes and bonds in 2010, providing good demand ...
Taiwan Emerges As Tech M&A; Hot Spot By Gordon Platt In the biggest merger ever in Taiwan, liquid crystal display (LCD) monitor maker Innolux Display agreed in November to acquire Chi Mei Optoelectronics, which makes LCD panels for ...
Outlook Improves For Capital Raising Using Depositary Receipts In 2010 By Gordon Platt Like initial public offerings, the amount of equity capital raised using depositary receipts dried up during the global financial crisis, but there has been a ...
Emerging Markets Deals Gain Prominence By Gordon Platt Warren Buffett’s $34 billion investment in Burlington Northern Santa Fe, the second-biggest railroad in the US, was a big bet on the future of the US economy, but major deals in emerging ...
Credit Market Recovery Stays Alive By Gordon Platt Corporate bond issuance worldwide passed the $2.5 trillion milestone for the year to date in October, and credit quality improved, as the record rally in the credit markets rolled along. ...
Equity Capital Underwriting Fees Rise 33% Gordon Platt Underwriting fees from global equity capital market transactions in the first nine months of 2009 rose 33% from the same period a year earlier to an estimated $14.8 billion, according ...
Morgan Stanley Leads After Three Quarters BY Gordon Platt Morgan Stanley edged out Goldman Sachs as the top financial adviser on mergers and acquisitions worldwide in the first three quarters of 2009, as M&A; activity declined 38% from ...