Know What's Happening in Investment Banking
Know What's Happening in Investment Banking
SpaceX eyes $5B Saudi anchor investment ahead of $75B IPO plan
SpaceX is in talks with Saudi Arabia’s Public Investment Fund for an anchor stake worth about $5 billion. The funding would support a planned IPO targeting roughly $75 billion, which would dwarf previous record offerings. The PIF, currently holding just under 1 % of SpaceX, seeks the new stake to avoid dilution.
The Bloomberg Intelligence FIC team examined global credit trends, focusing on a surge in Asian convertible bonds driven by higher rates, equity volatility, and issuer demand for cheap funding, while noting a slowdown in Chinese dollar bond issuance as firms shift to lower‑cost dim‑sum bonds. Jason Lee highlighted that overall EM Asia dollar bond supply will flatten in 2026, with Indonesia, South Korea and Hong Kong leading issuance, and China’s market share declining amid regulatory and FX pressures. In the Middle East, Basil Al‑Wakayan discussed rising GCC sovereign CDS spreads linked to geopolitical tensions, especially around Saudi‑Iran dynamics, and highlighted currency stress in Egypt despite monetary easing. Throughout, the analysts emphasized the interplay of macro conditions, currency risk, and investor demand shaping credit markets worldwide.
PRISM, the holding company behind OYO, has named former SEBI chairman Ajay Tyagi as an independent director. Tyagi brings extensive regulatory experience from his 2017‑2022 tenure at SEBI and prior senior roles in the Ministry of Finance. PRISM operates more than...
Sustainable debt issuance slipped 12% year‑on‑year to about $1.4 trillion in 2025, marking the slowest growth in five years, even as clean‑energy investment hit a record $2.3 trillion. Research from ING expects a modest rebound to roughly $1.62 trillion in 2026, with Europe...
LB Pharma went public in September 2024, pricing its shares at $15 and raising $285 million despite a severely constrained capital market. The IPO followed a Phase 2 trial that showed LB‑102 markedly reduced schizophrenia symptoms, sparking investor demand even as venture...
On February 6, 2026, CFIUS issued a request for information (RFI) to refine its Known Investor Program (KIP), a fast‑track review mechanism for repeat foreign investors in U.S. advanced‑technology sectors. The RFI outlines eligibility thresholds—at least three covered filings in...
Sponsor‑backed merger and acquisition activity surged to $165 billion in December 2025, marking the second‑largest monthly volume in the past decade, just shy of the $168 billion peak recorded in April 2021. Data from Mergermarket shows that leveraged buyouts and other sponsor‑driven deals now...
Covenant Review released its latest quarterly snapshot of new‑issue institutional loans that include a pick‑your‑poison covenant provision. The accompanying chart tracks the share of such loans by quarter, showing a clear upward trajectory over the past two years. The data...
The 2026 outlook for Americas private credit is dominated by the mass maturity of loans originated in 2021, pushing the asset class into the mainstream. Refinancing activity surged in 2025, with a 29% jump in deals that now represent 28%...
KBRA released its latest TTM Direct Lending Default Index on February 23, 2026, showing a year‑to‑date default rate of 2.8%, up from 2.4% in the prior quarter. The index recorded 150 cumulative defaults across the direct‑lending universe, while the weighted average spread...
Paramount has sweetened its bid for Warner Bros. Discovery, raising the cash offer to $31 per share and adding several protective clauses. The revised terms include an accelerated quarterly ticking fee, a $7 billion regulatory termination fee, and a commitment to...
Ukraine will emerge from the war burdened with massive debt, but experts Yuriy Gorodnichenko and Maurice Obstfeld argue that restructuring—potentially including outright forgiveness—is essential to attract private capital. They estimate a $40 billion annual investment gap, split between rebuilding destroyed assets,...
Federal Signal reported a record $555 million in net sales for Q3 2025, up 17% year‑over‑year, driven by strong organic growth in both its Environmental Solutions and Safety & Security groups. Adjusted EBITDA margin expanded to 20.9%, a 130‑basis‑point improvement, while GAAP...
Huddly AS announced that its private placement was fully subscribed, issuing 3,750,000 shares at NOK 20 each and raising NOK 75 million in gross proceeds. The net proceeds will be used to repay a NOK 30.75 million shareholder loan and to bridge the company’s cash‑flow...
Panoro Energy ASA announced a series of fixed‑income investor meetings, appointing Arctic Securities and DNB Carnegie as joint bookrunners and SB1 Markets as co‑manager. The company is considering a $150 million tap issuance of its senior secured bond, pending market conditions...
Panoro Energy ASA announced a private placement of up to NOK 467 million (approximately USD 49 million) to help fund the acquisition of Kosmos International Petroleum’s 40.375% non‑operated interest in Block G offshore Equatorial Guinea. The offering consists of two tranches – a fully...
BAM Mutual announced the hiring of Philip Moos, a 30‑year municipal sales veteran from Wells Fargo, to bolster its municipal capital markets team. Moos will report to Bryan Baebler and focus on expanding BAM’s secondary‑market insurance business with institutional investors. The insurer currently...
Eagle Energy Metals Corp. completed its business combination with Spring Valley Acquisition Corp. II, creating Eagle Nuclear Energy Corp. The new company will begin Nasdaq trading on February 25, 2026 under the ticker symbols NUCL and NUCLW. The merger pairs the largest...
CalPERS, the $613.7 billion California public‑employees pension, announced it will require its private‑equity general partners to provide far greater transparency on portfolio‑company data. CEO Marcie Frost said enhanced visibility will sharpen risk management and fulfill fiduciary responsibilities. The fund plans to...
Spirit Airlines announced a deal with creditors that will allow it to exit Chapter 11 bankruptcy by late spring or early summer 2026. The restructuring will shrink the carrier’s balance sheet, cutting debt from $7.4 billion to about $2.1 billion, and will trim...
At the NEXUS 2026 conference, private‑equity executives highlighted that a slowdown in exits and tighter returns are straining the traditional LP‑GP relationship. Mike Lazorik of Texas TRS warned that alignment “has never been more complicated” as limited partners push for...
Direct secondaries are emerging as a leading exit strategy for private‑equity portfolios, prompting a reassessment of how these assets are valued. Subu Parmeswaran of Valuation Research Corporation highlights that traditional static models no longer capture the nuanced risk‑adjusted returns of these...
The 2025‑2026 compensation update shows investment banking pay diverging by seniority. While total compensation rose modestly for analysts (≈5%) and associates (≈5‑10%), vice presidents and directors saw 10‑15% gains and managing directors enjoyed over 25% increases, often exceeding $1 million. Deal...
The Philippine Securities and Exchange Commission issued Memorandum Circular No. 11, Series of 2026, revising public‑ownership requirements for IPOs. The new tiered framework reduces the minimum float to 33 percent for firms under P500 million and as low as 15 percent for companies above P50 billion, with a...
Chair of Bain’s global private equity practice, Hugh MacArthur, says the growing ability for 401(k) participants to invest in private equity marks a major inflection point for the alternatives industry. He argues that retail access will set a new performance...
Meridiam has closed its latest infrastructure fund with €2.2 billion of commitments, extending its exposure to long‑hold European assets. The capital raise reached final close this week, adding to the firm’s growing pool of long‑term infrastructure capital. The new vehicle will...
GIC has emerged as the lead buyer for Meridiam’s continuation vehicle (CV) valued at over €2 billion. The CV aggregates a portfolio of 22 infrastructure assets currently held in Meridiam’s legacy funds. By acquiring the majority stake, GIC positions itself at...
The Ministry of Railways has launched an offer‑for‑sale (OFS) to off‑load up to 4 % of Indian Railway Finance Corporation (IRFC) equity, equivalent to 26.13 crore shares, with a green‑shoe option for an additional equal tranche. The floor price is fixed at...
Anthropic announced ten new AI plug‑in tools aimed at investment‑banking, private‑equity, engineering and design workflows. The rollout follows recent AI releases that sparked a sell‑off in traditional software stocks. Wall Street’s major indexes barely moved on the news, with the...
Brookfield-backed Rockpoint Gas Storage completed a secondary offering, selling 16.4 million shares at C$28 per share. The transaction generated approximately C$459 million in gross proceeds, including shares issued under an over‑allotment option. The capital raise bolsters the company’s balance sheet and funds...
Infra.Market, the Indian B2B construction‑materials platform, is raising ₹1,250 crore (≈$137 million) in debt from Singapore‑based Ascertis Credit. The loan will be secured by the company’s assets, promoter shares and stakes in its subsidiaries such as RDC Concrete and Neptune Readymix. Proceeds...
The Oklahoma Supreme Court is set to rule on $1.45 billion of winter‑storm bonds issued by Oklahoma Gas & Electric and Public Service Company of Oklahoma. Republican lawmakers allege the Oklahoma Corporation Commission violated state audit and ethics rules when authorizing...
Medtronic’s MiniMed spin‑off has filed its IPO prospectus, proposing to sell 28 million shares at $25‑$28 each to raise roughly $742 million, valuing the company at about $7.44 billion. The NASDAQ listing will be led by Goldman Sachs, BofA Securities, Citigroup and Morgan...
Capital Constellation announced a strategic partnership with Gallatin Point Capital to co‑invest in lower‑middle‑market companies across North America. The alliance combines Capital Constellation’s deep sector expertise with Gallatin Point’s operational platform and capital resources. Both firms will jointly source, evaluate,...
Retired Vice Admiral William Hilarides has taken a senior role at Ventus Industrial, a private‑equity‑backed firm targeting the defense industrial base. He says his mission is to accelerate shipbuilding capacity and help portfolio companies produce at the pace the Navy...
Communications Minister Solly Malatsi has recommended approval of Dell Technologies' Equity Equivalent Investment Programme (EEIP) renewal, extending the commitment for another ten years and pledging over R230 million into South Africa. The EEIP framework allows multinationals to meet B‑BEE targets through...
The U.S. market‑structure bill’s permissibility section would formally allow banks and their holding companies to own and transact in digital assets, effectively expanding the range of activities deemed permissible under the National Bank Act. Critics argue that simply placing an...
UOB's CFO Leong Yung Chee said the bank's provisions for commercial‑real‑estate exposures in Greater China and the United States are more than adequate as bad‑debt formation slowed in Q4 2025. Problematic US CRE loans represent about 1% of the local...
Water infrastructure is emerging as a hot‑spot for private‑equity investment, driven by stable cash flows and climate‑related demand. Ambienta has signed a non‑disclosure agreement to pursue an add‑on acquisition in the sector, signaling confidence in further consolidation. Meanwhile, Hg announced...
Hong Kong‑based stablecoin payments firm RedotPay is exploring a U.S. IPO that could raise more than $1 billion and value the company at over $4 billion. The offering would be underwritten by JPMorgan Chase, Goldman Sachs and Jefferies, with a potential New York...
The SEC’s new leadership is targeting the 40 percent decline in U.S. public companies by easing regulatory burdens, especially those that hinder share repurchases. It proposes reforming the safe‑harbor under Rule 10b‑18 to make buybacks more accessible to mid‑cap firms. Currently, the...
JPMorgan CEO Jamie Dimon warned that today’s aggressive loan‑making resembles the pre‑2008 buildup that led to the financial crisis. He said some rivals are taking “dumb” actions to inflate net interest income, while JPMorgan remains disciplined even if it means...
State and local governments issued a record $498 billion in municipal bonds in 2024 and topped $580 billion in 2025, driven primarily by infrastructure, education, and transportation projects. The surge reflects a shift from waning federal pandemic aid to local financing for...
India plans to raise 1.79 trillion rupees (about $19.7 billion) by selling stakes in state‑run firms through IPOs by the 2029/30 fiscal year. The effort is part of a broader $183.7 billion asset‑monetisation drive announced by NITI Aayog, following an earlier phase that fell...
ClearThink 1 Acquisition Corp. priced its $125 million initial public offering on February 24, 2026, with units slated to trade on Nasdaq under the ticker CTAAU. The SPAC is focused on merging with a financial‑services company operating in the United States and...
Why is the Blue Owl Tech BDC's NAV going UP when private credit sentiment is so bad? While it is primarily a private credit fund, the BDC does have a small equity portfolio, which mostly consists of a large chunk of...
Para offer —> $31/shr with $0.25 ticking fee…. WBD board says “Could Reasonably Be Expected to Lead to a “Company Superior Proposal””
Investor interest is reviving after a dearth of new airport privatisations in Europe. Potential deals are emerging for Sicily’s Catania airport, targeting a logistics hub, and Denmark’s Copenhagen Airport, which may welcome private investors again after a period of renationalisation....
I hadn't realized that $OWL came public via SPAC. It's now right back to its original price. Turns out it was all priced in. EMH undefeated https://t.co/Q6eyG9hYLM
Japan’s big bet on the U.S. housing market got even bigger today Japanese builders are rapidly acquiring U.S. homebuilders—now Daiwa House is buying United Homes That's just 10 days after Japan-based Sumitomo Forestry said it's buying Tri Point Homes https://t.co/UnPOshRdS1
