Today's Finance Pulse
Cemex secures $3 bn revolving credit facility
Cemex signed a five‑year, US$3 bn syndicated revolving credit facility to fund general corporate purposes, including refinancing existing obligations. The loan imposes a maximum consolidated leverage ratio of 3.75× net debt to EBITDA and a minimum coverage ratio of 2.75× EBITDA.
Also developing:
By the numbers: Pemberton Asset Management closes $3.7bn fourth vintage fund
Agentforce and Slackbot Dominate Salesforce Q1 Successes, as CEO Benioff Forecasts Coworker Impact to Come
Salesforce reported fiscal Q1 2027 revenue of $11.1 billion, a 13 % year‑over‑year increase, driven by strong performance in its Agentforce, Data 360 and Slack divisions. Agentforce annual recurring revenue topped $1.2 billion, up 205 % YoY, while Slackbot contributed 3.8 million hours of productivity and accounted for half of the quarter’s $1 million‑plus ACV wins. The company warned that marketing, commerce and Tableau segments remain soft and that license‑revenue volatility may rise with the inclusion of Informatica on‑premise sales. CEO Marc Benioff highlighted the upcoming Agentforce Coworker AI as a game‑changer that could turn a billion monthly searches into actionable outcomes.
CFOs Should Prepare for Long-Term Refunds
The U.S. Supreme Court invalidated the Trump administration’s tariffs, ruling that Customs and Border Protection illegally collected about $166 billion from roughly 300,000 importers. While refunds are technically owed, the CBP’s new Automated Commercial Environment portal is cumbersome, and lawyers warn...
PIDG to Launch Fund in India in Second Half of 2026
London‑based Private Infrastructure Development Group (PIDG) announced it will launch a dedicated fund in the second half of 2026 to finance healthcare and agriculture projects in India. The group is also mobilising $500 million of equity for Indian green projects over...
Buy Borr’s High‑Yield Secured Notes for Yield
Borr priced $2.035B secured notes (8.75% 2032, 9% 2034) to refinance 2028/2030. Collateral: rigs. Risk: Q1 loss, leverage. Trade: buy new notes for yield. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Nvidia Posts $81.6 B Q1 2027 Revenue, Cites $200 B AI Chip Market Opportunity
Nvidia announced fiscal Q1 2027 revenue of $81.6 billion, an 85% year‑over‑year jump, and lifted its full‑year outlook. CEO Jensen Huang said the newly unveiled Vera CPU unlocks a $200 billion agentic‑AI market, while Australian data‑center operator IREN signed a $1.6 billion deal for...
BOS Better Online Solutions Ltd (BOSC) Q1 2026 Earnings Call Transcript
Better Online Solutions Ltd. (BOSC) reported Q2 2025 revenue of $11.5 million, a 36% year‑over‑year increase, led primarily by a 57% surge in its supply‑chain division. Net income rose 53% to $765 thousand, while overall gross margin slipped to 23% due to mix...
Chagee Holdings Ltd (CHA) Q1 2026 Earnings Call Transcript
Chime Holdings reported record Q1 2026 results, adding 700,000 net new active members to reach 10.2 million and delivering 25% revenue growth that topped the high end of guidance. Adjusted EBITDA margin expanded to 18% and the company posted its first...
Banco BBVA Argentina S.A. (BBAR) Q1 2026 Earnings Call Transcript
BBVA Argentina reported first‑quarter 2026 revenue of $744.18 million, a 33.3% year‑over‑year increase that topped forecasts by $33 million. Earnings per share came in at $0.27, falling short of consensus by $0.08. Management highlighted the bank’s resilient business model despite Argentina’s high‑inflation...
Wolverine Worldwide’s Debt Ratings Upgraded
Moody’s upgraded Wolverine Worldwide’s credit profile, raising its corporate family rating to B1 and its senior unsecured notes to B2. The agency highlighted improved operating performance, lower leverage and stronger liquidity, driven by a turnaround at Merrell and Saucony, which...
Morningstar DBRS Confirms Credit Ratings on Six Single-Asset/Single-Borrower Transactions
Morningstar DBRS confirmed stable credit ratings on all 33 classes of commercial mortgage pass‑through certificates across six single‑asset, single‑borrower CMBS transactions, ranging from a $270 million seasonal hotel loan to a $1 billion mixed‑use leasehold in Washington, D.C. The agency retained its...
Saks Global Leans in Toward Bankruptcy Exit
Saks Global, which entered Chapter 11 bankruptcy on Jan. 13, filed an updated reorganization plan outlining a new seven‑member board and a $20 million litigation trust for unsecured creditors. The retailer owes $1.7 billion to vendors, but the plan proposes canceling most unsecured claims,...
Americold Launches "Fit for Purpose” Initiative, Advancing Strategic Priorities With Targeted Incremental Annual Overhead Savings of More Than $25 Million
Americold Realty Trust launched its "Fit for Purpose" initiative to tighten overhead and drive cost efficiency. The program targets more than $25 million in incremental run‑rate savings, with about one‑third expected in 2026 and full benefits by the first quarter of...
The AI Bubble
OpenAI’s CFO Sarah Friar hinted at a federal backstop for AI‑chip financing, only to see the comment denied by senior leadership and her role sidelined. Meanwhile, the five hyperscalers have poured roughly $725 billion into AI‑specific data‑center infrastructure, a level that...
IPX Power Secures $4.95 Billion Financing for California Solar‑Storage Mega‑Project
IPX Power announced a $4.95 billion construction‑debt package to fund the Darden solar and battery storage project in California’s Central Valley. The deal, coordinated by a slate of global banks, combines loans, tax‑equity bridges and credit purchases, underscoring the growing sophistication...
AutoZone Posts $4.84 B Q3 Revenue, 8.4% YoY Rise but Shares Drop 9.6%
AutoZone announced third‑quarter 2026 revenue of $4.84 billion, an 8.4% year‑over‑year increase, and earnings per share of $38.07, beating forecasts. Despite the top‑line beat, the retailer’s shares fell 9.6% as investors flagged a 57‑basis‑point gross‑margin dip and a looming $30 million LIFO...
SpaceX, OpenAI, and Anthropic IPOs: Can Wall Street Finance the AI Boom?
SpaceX has filed for an IPO that could raise as much as $75 billion, potentially the largest public offering ever. OpenAI is eyeing a September debut and Anthropic is exploring a listing later this year, driven by massive compute costs of...
Workday Launches AI Tool Aimed at Easing FP&A Workflows
Workday announced Adaptive Decision Intelligence, an AI‑driven extension to its Adaptive Planning platform that lets finance teams ask natural‑language questions and run scenario analyses in minutes. The tool aggregates data from ERP, CRM, HR and other enterprise systems while preserving...
HSBC and IFC Lead $1.5 B Bank Consortium for Brazil SAF Biorefinery
Acelen Renewables secured $1.5 billion in debt and equity financing from a ten‑bank consortium led by HSBC and the International Finance Corp. The funds will launch construction of a 1‑billion‑liter per year sustainable aviation fuel and renewable diesel biorefinery in Bahia,...
KMD Brands Launches Review as Q3 Sales Climb 5.2% and Break‑up Looms
KMD Brands Limited announced a board‑led business review aimed at reshaping its capital structure and portfolio after reporting a 5.2% year‑on‑year increase in third‑quarter sales. The review, which could include a break‑up of its Kathmandu and Rip Curl businesses, comes as...
Dangote Refinery IPO Targets $5 Billion, Aims to Transform Africa’s Capital Markets
Dangote Refinery announced a $5 bn initial public offering that could value the project at $40‑50 bn, positioning it as Africa’s largest ever listing. The move arrives amid a legal clash with the Nigerian National Petroleum Company over fuel pricing and import...
Argentina's Crisis Threatens Brazil and Global Investors as Inflation Remains High
Argentina’s economy, still reeling from a 211% inflation peak and a historic sovereign debt default record, shows modest recovery but leaves Brazil and international investors exposed to contagion risks. With reserves hovering around $30‑$35 billion and trade ties worth $20‑$30 billion, any...
KBRA Releases Research – Coming of Age: The Evolution of European Middle Market CLOs
KBRA’s new research charts the early‑stage growth of European middle‑market collateralised loan obligations (CLOs). The study notes that only a handful of publicly rated transactions have been completed, yet recent issuances indicate rising interest from managers and investors. Unlike traditional...
J-Star Holding Secures $60 Million Taiwan‑Backed Funding for U.S. Solid‑State Battery Plant
J-Star Holding Co., Ltd. announced that its U.S. subsidiary YMA Corporation has secured a $60 million sovereign‑backed financing package from Taiwan’s central bank. The funds will finance a 100 MWh solid‑state battery production line in Baytown, Texas, part of a $122.5 million infrastructure...
US Earnings Season Ends on Strong Q1 Gains, Guidance Takes Center Stage
U.S. companies delivered a powerful earnings beat in Q1, with the S&P 500 reporting a 24% earnings surge. As the season closes, analysts say guidance will dominate market sentiment, especially as bond yields and inflation remain volatile.
Salesforce’s AI‑First Bet Faces Crucial Test in Q1 FY2027 Earnings
Salesforce (CRM) will release its fiscal first‑quarter 2027 earnings on May 27, putting its Agentforce AI platform under the microscope. Analysts expect $11.05 B in revenue and $3.12 EPS, while the company’s guidance targets $45.8‑$46.2 B full‑year revenue and a 34.3% non‑GAAP...
Open‑source Bloomberg Clone Offers Free Alternative to $30k Terminal
A Bloomberg Terminal costs $30,000 a year. This guy made a Bloomberg Terminal clone. Then open sourced it (for free). Get it here:
Investors Say It’s Time for Pemex to Tap Global Debt Markets
Investors are urging Mexico’s state‑run oil giant, Pemex, to return to the international bond market after a three‑year hiatus. Analysts cite improving credit metrics, a narrowing fiscal deficit, and the need for fresh capital to fund refinery upgrades and new...
Mass Transfer of Article 8 Funds to ESG Basics ‘Not a Good Outcome’, Says EU Official
European Commission asset‑management chief warned that the upcoming SFDR 2.0 regime will trigger a mass migration of funds currently classified under Article 8 to the more generic Article 2 “ESG basics” category. The official described the outcome as “not a good outcome”, emphasizing...
Diana Ups Genco All-Cash Offer to $24.80
Diana Shipping has raised its all‑cash offer for Genco Shipping & Trading to $24.80 per share, up from $23.50. The bid follows a series of unsolicited proposals that began at $20.60 in November 2025. Diana argues the higher price reflects...
Most CFOs Won’t Say This Out Loud: ‘There Is No Playbook’
Safety‑net hospitals are confronting a perfect storm of rising denial rates, soaring labor costs and looming Medicaid cuts. At the County of Santa Clara Health System, a $4 billion budget could lose roughly $1 billion annually as Medicaid funding dwindles. Deputy CFO...
Budgeting Vs. Forecasting: Differences and Uses
Budgeting and forecasting are distinct yet complementary financial tools. A budget outlines a detailed, static plan for a fiscal period—usually a year—based on past statements and departmental input, often coordinated by the CFO. Forecasting provides dynamic, regularly updated expectations that...
Surveil Expands Real-Time Co-Development with the FinOps Community as AI Reshapes Cloud Economics
Surveil, a FinOps‑certified platform, announced expanded sponsorship of FinOps X 2026 and new early‑access programs that let community members co‑develop features for cloud, SaaS, and AI cost management. Over the past year the company has collaborated with the FinOps Foundation to...
Building a Unique Community Bank Through New Business Lines
In this May 2026 episode of This Month in Banking, host Tara Wien and co‑host Dave Danielson speak with Ed Barry, CEO of Capital Bank, about how the bank transformed from a $336 million community bank into a nearly $4 billion institution...
India’s Richest Civic Body Plans Nearly $1 Billion Muni Bonds
India’s wealthiest municipal body, the Brihanmumbai Municipal Corp (BMC), is seeking to raise up to 95 bn rupees ($992 m) through municipal bonds. A tender due June 15 requires arrangers to commit at least 10 bn rupees ($104 m) and technical bids will be opened...
IASB Releases Rate-Regulated Company Standard
The International Accounting Standards Board issued IFRS 20, a new standard for rate‑regulated entities such as electricity, water and gas utilities. It requires firms to record regulatory assets and liabilities so that revenue and expenses align with the period services are...
Eli Lilly to Acquire Curevo for up to $1.5 Billion, Boosting Shingles Vaccine Portfolio
Eli Lilly announced a definitive agreement to acquire Curevo Vaccine for up to $1.5 billion in cash. The deal gives Lilly access to Amezosvatein, a Phase‑3‑ready shingles vaccine that matched the standard of care in Phase 2 while halving side‑effects. The transaction...
Tennessee Levies Tax on Remittances
Tennessee will levy a $10 flat fee plus a 2 % surcharge on cross‑border payments exceeding $500, with the law taking effect on Jan. 1, 2027. The state projects about $54.8 million in annual revenue from the measure, based on roughly 16.3 million international money...
Pets At Home Slashes Dividend, Launches $63.5 M Share Buyback After FY26 Profit Drop
Pets At Home Group Plc announced a 28.3% decline in FY26 profit before tax to £86.5 m and cut its dividend. The retailer also unveiled a £50 million ($63.5 million) share buyback to be executed over the next 12 months, aiming to meet...
Oil Stockpiles Hit 11‑Year Low, Midstream Dividends Shine for Investors
Global oil inventories have fallen to their lowest level in 11 years, intensifying market focus on energy‑sector financing. Midstream operators Enterprise Products Partners and Enbridge, with yields of 5.5% and 4.8%, are highlighted as resilient dividend plays amid the volatility.
Walmart to Use Expected $35B Tariff Refunds for Price Cuts Amid Fuel Cost Pressures
Walmart announced that anticipated tariff refunds, part of the $35.46 billion processed by U.S. Customs, will be earmarked for price reductions as fuel costs squeeze consumers. The move comes as the retailer posted $177.8 billion in first‑quarter revenue, up 7.3% YoY, and...
S&P Global Will Spin Off Mobility Global On July 1 — With $2 Billion Of Debt
S&P Global will distribute one share of Mobility Global to each of its shareholders on July 1, 2026, creating a stand‑alone automotive‑data company that will trade under the ticker MBGL. The spinoff is financed with a $2 billion senior note offering and a...
WBD Bondholders Approve Change in Fiscal Rules to Facilitate Paramount Merger
Warner Bros. Discovery secured bondholder and lender consent to amend its fiscal covenants, clearing a key hurdle for the $110.9 billion Paramount Skydance acquisition. The vote covered $16.6 billion of debt, with approval rates between 79 % and 99 % across note classes. Paramount will...
Apogee Therapeutics Secures Up to $1.3B Financing From Blackstone to Advance Zumilokibart
Apogee Therapeutics announced a financing package of up to $1.3 billion from Blackstone, comprising roughly $800 million in synthetic royalty funding and $500 million in senior debt. The synthetic royalty agreement spans 15 years, with tiered rates that decline as sales increase and...
Paramount Gains Ground in Push for DOJ Approval of Its Warner Bros. Discovery Purchase as Regulators Signal Potential Approval
Paramount is moving closer to securing DOJ approval for its $110 billion acquisition of Warner Bros. Discovery after a two‑hour antitrust briefing. The company emphasized a continued commitment to theatrical releases to counter concerns about streaming‑first strategies. Shareholder consent is already in place,...
The Rating Agencies Still Think This Is a Junky Credit. We Continue to Disagree.
A high‑yield operator, still labeled junk by rating agencies, is trading at yields above 8.5% after posting its strongest ADR in a decade and retiring nearly $2 billion of debt in the last 12 months. The bonds have risen above par,...
TIM and Poste Italiane Exec Meeting Drives Takeover Forward
TIM and Poste Italiane held an executive meeting that formalised the timeline for Poste's €10.8 bn ($11.8 bn) takeover bid of the telecom operator. Poste Italiane, now holding a 27.3% stake in TIM, reaffirmed its target to close the deal by the...
Koh Brothers Eco Engineering Proposes Transfer to SGX Mainboard
Koh Brothers Eco Engineering, a Catalist‑listed engineering solutions provider, filed a bourse application to transfer to the SGX mainboard. The move is intended to improve liquidity, visibility and access to institutional investors. The parent group holds a 54.8% stake and...
Cartesian Therapeutics Secures $150 Million Credit Facility to Push Autoimmune Cell Therapy
Cartesian Therapeutics announced a $150 million credit facility with K2 HealthVentures, including an initial $50 million tranche that will fund operations through 2028. The financing backs the upcoming Phase 3 AURORA trial readout for Descartes‑08, its lead cell‑based therapy for myasthenia gravis and...
European Banks Shed $500 Billion in Corporate Loans via Risk Transfer Trades
Europe’s major banks are cutting exposure to corporate borrowers by offloading roughly $500 billion of loans through significant risk transfer (SRT) trades. The move, which now covers about 11.1% of their corporate loan books, signals a shift toward tighter credit and...
SpaceX Targets $1.75 Trillion Valuation as Anthropic and OpenAI Gear Up for 2026 AI IPOs
SpaceX filed an S‑1 seeking a $1.75 trillion valuation, and insiders say Anthropic and OpenAI are preparing their own 2026 IPOs. The three AI powerhouses could dominate market allocations, push valuations higher, and force investors to weigh soaring AI compute costs...