Unstructured Finance

Reliance aims big with $12 bln bid for LyondellBasell

November 23, 2009

Ranked by Forbes as India’s richest man with a net worth of $32 billion, Mukesh Ambani Mukesh Ambani, chairman of Reliance Industries, is no stranger to taking risks.

Cocos – credit market classics?

November 10, 2009

 ”Cocos” has become the user-friendly name for a new type of hybrid bond created to help UK bank Lloyds raise money from investors to break away from a government insurance scheme for bad loans.

Lenders quiet on Yell support

October 29, 2009

For Yell, the publisher of Britain’s Yellow Pages directories, there is a world of difference between 90 and 95 percent.

Die Hard (with a vengeance)

October 22, 2009

Actor Bruce WillisAmerican actor Bruce Willis is probably best known as the all-action hero in the Die Hard films, fighting evil-doers against all the odds.

PE deals indicate lending thaw

October 8, 2009

NORWAY/Two very different deals announced Wednesday show that financing markets are starting to support larger private equity transactions again.

Keeping score: U.S. bonds, European convertibles, Chinese IPOs

September 18, 2009

From this week’s Thomson Reuters Investment Banking Scorecard:

· US CORPORATE DEBT TOPS $20 BILLION, BREAKS RECORD

For the second consecutive week, the volume of corporate investment grade debt in the US market topped the $20 billion mark, bolstered by benchmark names in the energy & power and financial sectors.   Shell International Finance raised $5 billion via Morgan Stanley, Bank of America Merrill Lynch and Deutsche Bank, while Canada’s Cenovus Energy raised $3.5 billion this week.

Keeping score: IPO filings, U.S. debt, Porsche

August 21, 2009

Highlights from this week’s Thomson Reuters Investment Banking Scorecard:

·Nine Consecutive Weeks of IPO Filings in the US
Since late June, 32 Companies have filed to go public on US stock exchanges, marking nine consecutive weeks of IPO filings and the longest streak in over a year.  Notable names include Hyatt Hotels, Dole Foods, Dollar General and Ancestry.com.

Nycomed crafts a buyout, 2009-style

August 7, 2009

Nycomed, the Swiss drug company, already has 4 billion euros or so of net debt and some pretty junky single-B credit ratings. But that’s not deterring the private-equity owned outfit from plotting a bid for the drugs business of Belgium’s Solvay, even in these leverage-phobic times. As I wrote earlier:

Only the lawyers are cleaning up

July 31, 2009

A man cleans a row of rickshaws in Karachi July 26, 2009. REUTERS/Akhtar Soomro A month of overcast skies and frequent showers indicates it is business as usual for the British summer, and for one company each day of rain brings particular displeasure.