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Nvidia-Arm $40bn Deal Now in Doubt
Nvidia's $40bn acquisition of Arm Ltd. from SoftBank is now in crosshairs, as per sources. Nvidia is said to have told its partners that it doesn’t expect the transaction to close, while SoftBank is stepping up preparations for an IPO for Arm Ltd. as an alternative to...
Ukraine & Russia’s Dollar Bonds Slip on Escalating Tensions
Geopolitical tensions escalated as Russia ramped up military drills across the Pacific to its western flank around Ukraine. The announcement of drills comes after the US and NATO deployed troops in the region to dissuade Russia from a possible invasion. The new drills...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended slightly higher with the S&P and Nasdaq ending up 0.3% and 0.6% after dropping almost 5% mid-day. Sectoral gains were led by Consumer Discretionary, up 1.2%, Energy and Industrials, up 0.5% each. US 10Y Treasury yields were 2bp lower at...
R&F Properties Upgraded to CC by Fitch following Exchange Offer
R&F Properties and its subsidiary R&F Properties (HK) were upgraded to CC from RD by Fitch on the completion of its exchange offer. R&F succeeded in delaying payment on its $735mn 5.75% dollar bond due last Thursday by six months after buying back 16%...
Credito Real Downgraded to B- by S&P
Credito Real was downgraded to B- from B+ on increased refinancing risk and weaker liquidity. Credito Real has CHF 170mn ($185.7mn) of its 2.875% 2022s due on February 9 with S&P expecting the lender's liquidity strengthening initiatives to build up internal...
Shimao to Exit 34 Projects; Pudong Bank Prices Yuan Bond Partly for Property M&A Loans
Chinese developer Shimao Group is moving to offload 34 projects across 17 cities that include, Beijing and Shanghai, as per Caixin Global. Shimao is asking for RMB 42.2bn ($6.7bn) for 15 of those projects while the remaining 19 are either JVs or projects in initial...
Evergrande Requests Creditors Not to take Legal Action; Names New Board Members
Evergrande asked offshore creditors to not take any “radical legal actions” against the company. The request comes after its creditors stated that they will take “all necessary actions” if the company did not show urgency to resolve a default. Evergrande announced it...
Vodafone Said to Be Mulling Mergers With British & Italian Telcos
Vodafone Group is said to be mulling mergers of its British and Italian units with CK Hutchison's Three UK and France's Iliad SA respectively, as per Bloomberg and Reuters sources. The sources said that Vodafone had expressed interest in Three UK late last year but...
UniCredit Receives Bids for Parts of Leasing Unit
Italian lender UniCredit Spa is said to have received bids for parts of its leasing unit as per people familiar with the matter. The sources added that UniCredit is evaluating five non-binding offers including bids from PE firms Bain and Christofferson Robb & Co...
