SocGen Reports Q4 Earnings
Societe Generale (SocGen) reported net profits of €470mn ($569mn) for Q4 and a net loss of €258mn ($313mn) for 2020 beating expectations of €252mn ($306mn) and -€258mn ($313mn) respectively. Net banking income came in at €22.1bn ($26.8bn), down 10.4%. The bank’s CET1...
Softbank Reports Strong Earnings With $13bn Increase in Vision Fund Investments
Japanese conglomerate SoftBank reported strong earnings for the quarter ended December 31 with profits of $11bn, of which $8bn was from its Vision Fund in a rather interesting presentation referencing a goose and golden eggs. The $100bn Vision Fund’s 82 investments...
UBS Raises $1.5 Billion via PerpNC10 AT1 at 4.375%
Swiss investment bank UBS raised $1.5bn via a perpetual non-call 10Y (PerpNC10) bond on Monday at a yield of 4.375%. While order book details were not available at the time of writing, investor demand seemed strong based on the 62.5bp tightening. UBS started marketing...
Cinda, Huaneng, HDB Launch New Bonds; T-Mobile Upsizes Issuance to $3bn; CFLD $ Bonds Take Another Beating; Vedanta Launches Consent Solicitation
S&P and Nasdaq saw their rallies come to a halt with the indexes down 0.7% and 1.3% on Monday. Tesla fell 7.8% while Twitter fell 6.4% after permanently suspending Trump’s account. European equities also had a similar move, down 0.3-0.8%. While elements of...
