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Mubadala Said to Show Interest in NMC’s Hospital Business
Troubled NMC Health is likely to find another suitor in Abu Dhabi after the Emirates sovereign fund Mubadala has shown interest in buying NMC Health's core hospital business. Mubadala, which has over $230bn in AUM said, "As an investor we regularly assess...
Adani Ports to Partner with Sri Lankan Firm to Develop Colombo Port
On March 15, Adani Group revealed it has received a Letter of Intent (LOI) from the Ministry of Ports and Shipping of Sri Lanka and the Sri Lanka Ports Authority (SLPA) after the Sri Lankan Cabinet had approved the development of Colombo's West Container Terminal...
Piraeus Bank to Receive €1bn Capital Infusion
Greek lender Piraeus Bank announced on Tuesday that it is planning to raise €1bn ($1.2bn) via a share placement to institutional investors. This would reduce the Greek rescue fund Hellenic Financial Stability Fund's (HFSF) stake, which currently stands at 61.3%, to a...
FCA Launches Criminal Proceedings Against NatWest
National Westminster Bank (NatWest), owned 62.4% by the UK government, faces criminal proceedings as the Financial Conduct Authority charged the lender with anti-money laundering failures. The FCA alleges that NatWest failed to comply with anti-money laundering rules...
British Airways Lining Up Junk Bond
The owner of UK carrier British Airways, Iberia and Aer Lingus (IAG) has hired bankers on Tuesday for its first bond issuance since it has been downgraded to junk from investment grade last May. IAG has hired BBVA, Goldman Sachs, Morgan Stanley and Santander as join...
Petronas, Hutchison Ports Launch $ Bonds; Macro; Rating Changes; New Bond Issues; Talking Heads; Top Gainers & Losers
US equities advanced as S&P was 0.6% higher and Nasdaq over 1% higher. Utilities led the gains, up 1.4% followed by real estate up 1.2%. Financials and energy sectors fell 0.6% and 1.3% respectively. US 10Y Treasury yields eased by 4bp. European equities were...
Evergrande Units to Report Earnings This Month; What to Look Out For
China Evergrande, the most indebted property developer will see its four main listed units report earnings this month. It will begin with its property services unit, then its EV start-up, followed by its property arm and "cultural units" as per Bloomberg. The results...
Wanda Sells AMC Stake & Reduced Voting Control; Stares at a Tall Maturity Wall
Wanda Group, which sold its majority control in AMC's theatres business, stares at a looming maturity wall with total debt amounting to $25bn as per Bloomberg data. About $6.5bn is due this year with another $2.4bn and $4bn due in the next two years. Cash and cash...
DIAL Extends Tender Offer for 2022s
Delhi International Airport Ltd (DIAL) extended the tender offer for its 6.125% 2022s from the previous deadline of March 15 to March 18, 2021. If the offer is successful, it will purchase the notes at $1,020 per $1000 in principal plus accrued interest. DIAL will not...
