Hong Kong's Lai Sun Seeks Maturity Extension for July Dollar Bond
Lai Sun Development has asked bondholders to extend the maturity of its $493 million July 2024 bond by three years, offering to repay 20% of the principal upfront. The proposal, discussed in private meetings, would make Lai Sun one of the first Hong Kong property developers to use a liability‑management exercise amid lingering sector debt pressure. The 5.0% bond traded down to 80.625 cents on the dollar, reflecting market concerns. Lai Sun’s total borrowings are roughly $1.55 billion, and it reported a HK$1.2 billion ($153 million) loss for the first half of the fiscal year.
Valuation of Solar Development Pipeline
Zenith Energy Ltd announced an independent re‑valuation of its Italian solar pipeline, now totaling 173.5 MWp and worth €54.7 million (≈$59 million), nearly double the €27.5 million valuation from December 2025. The company plans to divest 50 MWp—about 20 MWp operational and 30 MWp ready‑to‑build—for roughly €41 million...
Lanzatech Global Inc (LNZA) Q4 2025 Earnings Call Transcript
Lazard Ltd. reported $3 billion in full‑year 2025 revenue, highlighted by a record $1.8 billion Financial Advisory haul and a 12% rise in assets under management to $261 billion. Q4 revenue reached $892 million, up 10% YoY, while Asset Management generated $339 million, an 18%...
SCI-In-Conversation-Podcast:-Alex-Branton,-Nodem-Capital
In a recent episode of SCI In Conversation, Jacob Chilvers interviews Alex Branton, founder of Nodem Capital, about the firm’s net‑asset‑value (NAV) lending strategy. Branton describes how NAV lending has moved from a niche product to a mainstream financing tool for private‑equity and...
Evercore ISI Predicts 'Inflection Point' Is Days Away, Plans to Commit Capital if S&P 500 Drops to This Level
Evercore ISI managing director Julian Emanuel warned that the market is approaching an inflection point within days, hinging on President Donald Trump's decision on Iran's energy facilities on April 6. He said Evercore will commit new capital if the S&P 500 falls...
Sherritt Announces Non‑Brokered Private Placement for up to $50 Million
Sherritt International Corp. announced a non‑brokered private placement to raise up to CAD $50 million (≈ US $37 million). The deal includes Seymour Schulich subscribing for up to 68.6 million common shares for CAD $14.4 million, with the company issuing up to 238.1 million shares at CAD $0.21 each (≈ US $0.16). The...
Rocket Lab Wins German Approval for Mynaric Deal
Rocket Lab received approval from Germany's Federal Ministry for Economic Affairs and Energy to acquire laser‑communications firm Mynaric for roughly $150 million, clearing the final regulatory hurdle. The approval, announced on March 30, enables the deal to close in April and marks...
E*Trade in Talks to Lead SpaceX IPO for Retail, Report Says
Morgan Stanley’s E*Trade unit is negotiating to become the primary conduit for retail investors in SpaceX’s upcoming IPO, potentially outpacing rivals Robinhood and SoFi. SpaceX may set aside as much as 30% of the offering for individual investors, a move...
After Missing Kezar Buyout in 2024, Tang Returns as CEO of Aurinia With $50M Offer
Kevin Tang, newly installed CEO of Aurinia Pharmaceuticals, has revived his bid for Kezar Life Sciences with a $50 million offer of $6.95 per share, roughly matching Kezar’s $47 million market cap. The proposal follows Tang’s earlier, unsuccessful $1.10‑per‑share attempt made through...
Disclosure of Trading in Own Shares
Publicis Groupe disclosed a two‑day share repurchase on March 23‑24, 2026, buying a total of 387,454 shares. The transactions were executed through BOFA Securities Europe and multiple venues, averaging €71.0605 per share. The gross consideration amounted to €27.53 million (approximately $30.3 million). The buyback...
Harvard Returns to Market with a $675 Million Bond Sale
Harvard University is pricing a $675 million tranche of unsecured general‑obligation revenue bonds, rated Aaa by Moody’s and AAA by S&P. The proceeds will fund campus construction, refinance 2016 bonds and repay commercial paper. The sale comes amid ongoing federal lawsuits,...
Mevo Raises $18M Round Led by Prosus
Brazilian digital prescription platform Mevo secured an $18 million funding round led by Prosus, with participation from Matrix, Jefferson River Capital and Floating Point. The capital will fund expansion of exam‑scheduling tools, patient‑support program integration, and growth of its online pharmacy...
Software Obsolescence Risk Menaces CLO Market
A looming debt maturity wall is hitting AI‑focused software firms, prompting borrowers to sell debt amid fears of product obsolescence. Bank of America warns that 2026‑2027 loan maturities could trigger self‑fulfilling defaults, pressuring CLO managers to shy away from refinancings....
Marijuana Farmer Turned Digital Sports Name Soars 922% In March
Urban‑gro, a controlled‑environment agriculture supplier for cannabis, merged with digital sports media firm Flash Sports & Media on February 17, creating Flash Sports & Media Holding. The combined entity secured international cricket broadcasting rights, prompting the stock to jump 416%...
XED, India's First GIFT City IPO, Withdraws Issue After Weak Demand
XED Executive Development, the first company to list from India’s low‑tax GIFT City, withdrew its roughly $12 million IPO after only about 5 % of shares were subscribed. The pull‑back was driven by delays in mandatory video‑based verification for foreign investors and...
BNP Paribas Buys Stakes in 4 Stocks via Block Deals; LG Electronics, Max Health & 2 More
BNP Paribas executed four block‑deal purchases on Indian exchanges, acquiring stakes in Siemens Energy India, GMR Airports, LG Electronics India and Max Healthcare Institute. The total outlay was roughly $20 million, with individual deals ranging from $3.7 million to $6.9 million. Despite the inflow...
Indian Gas Maker INOX Air Products Plans $1 Billion IPO, Appoints Bankers, Sources Say
Indian industrial‑gas maker INOX Air Products, a joint venture between Air Products and Chemicals and the INOX Group, is preparing a $1 billion IPO in Mumbai. The company has hired Kotak, JPMorgan and Citi as lead managers and expects to file...
IDB Invest and Proparco Partner with Millicom to Expand Digital Infrastructure Across Latin America
IDB Invest and French development finance firm Proparco are jointly investing $100 million in a Colombian‑peso‑denominated bond issued by Millicom International Cellular. Each institution will anchor $50 million, financing network upgrades across Bolivia, Colombia, El Salvador, Guatemala, Honduras, Panama and Paraguay. The proceeds...
Banking Giant Turns 'Firmly Positive' On Orsted: 'Trump's Iran War Is Helping Offshore Wind'
Bank of America upgraded Danish offshore‑wind leader Ørsted to a Buy, lifting its price target to DKr 180 (≈ $25) from DKr 155 (≈ $22). The upgrade cites a stronger European push for renewable energy after the Middle‑East energy shock and a de‑risking of...
Chart of the Week: Leverage Takeover
The latest LSEG LPC chart shows a decisive shift in middle‑market leveraged‑buyout financing. In 2014 banks supplied roughly 70 % of the capital, but by 2025 their share fell below 30 %, while direct lenders now fund over 60 % of deals. This...
Credit Crunch: GSAM’s McClain on High Yield Risks, Resilience
Goldman Sachs Asset Management’s high‑yield co‑head John McClain says the post‑COVID high‑yield market remains robust, with scarce new issuance, minimal downgrades and strong investor demand anchored by elevated base rates. Credit spreads are holding at reasonable levels, reflecting solid underlying...
Hong Kong Turns the Page on Paper Shares as Digital Shift Kicks Off in November
Hong Kong’s Securities and Futures Commission announced that the city’s stock market will go fully digital on November 16, eliminating paper share certificates. Around 2,600 listed companies will migrate to the new uncertificated securities regime over the next five years, while...
What Is Your Firm Worth?
Accounting firms are seeing valuation methods shift as private‑equity investors push EBITDA‑multiple pricing, with “good” multiples now 5‑7× and “outstanding” 9‑10×. The article outlines how factors such as organic growth, succession planning, industry specialization, and buyer competition influence those multiples....
T&G Global Hires Goldman Sachs to Work on Possible Sale
T&G Global Limited has hired Goldman Sachs to run a sales process as its majority shareholder, Germany's BayWa AG, looks to divest its stake. BayWa, which posted a €1.6 bn (≈$1.86 bn) loss in 2024, announced the intention in December and T&G...
LA Wildfires a Real-World Stress Test. Investor Confidence in Wildfire Cat Bonds Rose: Swiss Re
The January 2025 Palisades and Eaton wildfires in Los Angeles served as a real‑world stress test for U.S. wildfire catastrophe bonds. Swiss Re Capital Markets reported that, despite no per‑occurrence payouts, the events reinforced investor confidence and spurred record‑size issuance, including the...
Starcloud Raises $170M Series A at $1.1B Valuation
Starcloud, a Redmond‑based orbital data‑center startup, closed a $170 million Series A round that values the company at $1.1 billion. The financing, led by Benchmark and EQT Ventures with participation from institutional and angel investors, follows the successful November launch of Starcloud‑1, which...
Recent Restaurant Deals Show Where the Industry Is Headed
This week’s restaurant finance briefing highlights recent equity deals for Nothing Bundt Cakes and Dave’s Hot Chicken, signaling a growing investor appetite for niche bakery and fast‑casual concepts. The coverage also notes that rising fuel costs are squeezing full‑service operators,...
Sysco to Acquire Restaurant Depot for $29.1B
Sysco announced a $29.1 billion cash‑and‑stock acquisition of Jetro Restaurant Depot, adding 166 cash‑and‑carry warehouses and access to roughly 725,000 independent restaurants. The deal values Restaurant Depot at a 14.6‑times EBITDA multiple, with shareholders receiving $21.6 billion in cash and 91.5 million Sysco...
TotalEnergies Completes UK Upstream Merger to Form NEO NEXT+
TotalEnergies has merged its U.K. upstream oil and gas assets with NEO NEXT, creating NEO NEXT+ and taking a 47.5% stake. The new entity becomes the largest independent producer on the U.K. Continental Shelf, targeting over 250,000 barrels of oil equivalent per...
Olaplex to Salt & Stone: All the Beauty M&A Deals of 2026 so Far
The first quarter of 2026 has seen a surge in beauty‑industry mergers and acquisitions. Henkel announced the purchase of hair‑care innovator Olaplex, while Estée Lauder Companies completed a full acquisition of Indian luxury brand Forest Essentials. Private‑equity firms are deepening...
Capital A Eyes U.S. and Hong Kong Listing, Names New Deputy CEO
Capital A announced plans for dual stock‑market listings, targeting a Hong Kong IPO in July‑August and a U.S. listing for its AirAsia Next entity by year‑end, contingent on clearing its PN17 distressed status. The company also appointed former CIMB executive...
Process Begins for Sale of Rail Logistics Europe Stake
SNCF is advancing the sale of up to 49 % of Rail Logistics Europe (RLE), valued at roughly €800 million (about $860 million), with Lazard and Indosuez handling the process. The stake covers six freight subsidiaries and is slated for completion by 2027....
Plaid CFO Says Fintech Company Has Earned the Right to ‘Pick Our Time’ for IPO
Plaid’s CFO Seun Sodipo says the fintech firm can afford to wait for the optimal moment to go public after posting a 40% jump in annual recurring revenue to over $500 million and delivering a full‑year adjusted EBITDA profit. The company...
Zenkyoren Targets Mid-Guidance Pricing for $100m Nakama Re 2026-1 Japan Quake Cat Bond
Zenkyoren, Japan’s agricultural mutual insurer, is pursuing mid‑guidance pricing of 2.1% for its $100 million Nakama Re 2026‑1 catastrophe bond, a slight reduction from the original 1.9‑2.4% spread range. The bond provides fully‑collateralized earthquake reinsurance covering losses from an attachment point...
Standard Bank CIB Global Markets Leads the Field at JSE Spire Awards 2026
Standard Bank’s Corporate and Investment Banking Global Markets division captured top honours at the 2026 JSE Spire Awards, being named Overall Best Fixed Income and Forex House. The peer‑reviewed awards, driven by South Africa’s largest institutional investors, also saw the...
Universal Music Group to Launch €500 Million Share Buyback Program
Universal Music Group announced its first‑ever share‑buyback programme worth €500 million (approximately $575 million). The move is framed as a response to a perceived valuation dislocation and signals strong confidence in the company’s long‑term strategy. UMG’s Q4 results showed 10.6% revenue growth...
Mistral Secures $830M From Seven Banks to Build Its Own AI Data Centre
Mistral AI has secured an $830 million syndicated loan from seven banks to finance a new AI data centre near Paris, slated to launch in Q2 2026. The facility will house 13,800 Nvidia GPUs, giving the French startup direct control over its...
Alternative-Capital-Driving-MA-Eligible-Asset-Innovation
Alternative capital is reshaping the pool of assets eligible for the UK’s Mortgage‑Asset (MA) reforms, unlocking new securitisation opportunities. The landmark EQR 1 ABS transaction, detailed by Ashley Thomas of ARC Ratings, demonstrates how private‑fund and non‑bank financing can deliver higher...
Citi Names Natural Resources Head for ANZ CMA Team- #CapitalMarkets #Finance
Citi has appointed Anders Svensson as managing director and head of its natural resources group for the Australia‑New Zealand capital markets and advisory team. Svensson arrives from Morgan Stanley after more than two decades covering oil, gas, metals and mining. He...
SCI-Webinar:-Repeat-Issuance-Reshapes-SRT-Market-Dynamics
The Structured Risk Transfer (SRT) market is moving toward programmatic issuance, with banks establishing repeatable platforms that standardize documentation and timing. Issuers now anchor transactions to annual windows, creating a branding effect that streamlines investor engagement and reduces execution friction....
Pockets-of-US-CMBS-Repay-Attention
US commercial mortgage‑backed securities (CMBS) are showing localized repayment activity after a period of muted performance. Structured‑credit executives highlighted that specific asset classes, such as retail and multifamily properties, are seeing improved cash‑flow and lower delinquency rates. The article notes...
SCI-In-Focus:-Geopolitical-Risks-Compound-Pressure-on-Single-B-Minus-CLO-Holdings
European collateralized loan obligations (CLOs) rated single‑B‑minus and lower are under heightened stress as geopolitical tensions amplify credit uncertainty. A looming €8.3 billion (≈ $9 billion) refinancing wall in 2026 forces many issuers to seek new funding amid diverging credit paths. Spreads on...
Kailera Plans IPO for Phase 3 Obesity Drug From Hengrui
Kailera Therapeutics, one of biotech’s best‑funded startups, announced plans to go public to finance the Phase 3 trial of its obesity drug co‑developed with China’s Hengrui. The IPO aims to raise capital that will position the company against heavyweight rivals such...
Planet IPO Remains Open to Real Estate Developers on Borsa Istanbul Despite War Stress on Markets
Turkey’s capital markets board (SPK) approved Agaoglu Avrasya REIT’s IPO, offering 176 million shares (25% stake) at TRY 21.10 per share, raising roughly $84 million. The offering expands the REIT’s paid‑in capital to TRY 701 million and marks the fourth REIT IPO on Borsa Istanbul this...
Why Rezolve AI (RZLV) Is Betting Big on Reward Loyalty to Scale Commerce Media and Payments
Rezolve AI PLC (NASDAQ:RZLV) announced a cash acquisition of Reward Loyalty UK Limited for $230 million, financed entirely from existing resources. The deal is non‑dilutive and is projected to contribute roughly $90 million of EBITDA‑accretive revenue. Reward Loyalty brings a live commerce‑media,...
JPMorgan Upgrades HDFC Bank Stock Rating on Valuation Appeal
JPMorgan upgraded HDFC Bank to Overweight, lowering its price target to INR 1,010 (about $12.2). The bank’s shares have fallen 33% YTD, trading at a 16‑year low price‑to‑book of 1.5× and a $24.35 price near its 52‑week low. The rating lift...
Bihar Planning Market Debut of Transmission Company BSPTCL: State Energy Secy
India's Bihar state government plans to list its power transmission arm, Bihar State Power Transmission Company Ltd (BSPTCL), on the NSE, making it the first state‑owned transmission utility to go public. The IPO will fund a ₹16,194 crore (≈$1.95 billion) transmission expansion...
Blackstone-Backed EPL to Merge with Indovida to Make $2 Billion Packaging Giant
Blackstone‑backed EPL and Indorama Ventures’ Indovida India have signed a definitive share‑swap agreement to merge their rigid packaging businesses, forming a $2 billion entity with roughly $1 billion in annual sales. Indorama will become the majority shareholder with a 51.8% stake, while...
JetBlue-Alaska Makes Most Sense, But Does Alaska Want It?
JetBlue is actively scouting merger partners after years of uneven profitability and a failed Spirit bid, with Alaska Airlines emerging as the most logical fit. Alaska’s strong cash position, West‑Coast dominance and international aspirations complement JetBlue’s Northeast network and Caribbean...
S-Reits Pursuing Growth as Iran War Escalates Risk Poorly Timed Equity Raising Exercises
L‑Reit’s $145 million equity raise to fund a 30% PLQ Mall stake was badly timed, with the offering undersubscribed and the unit price slipping below the S$0.558 ($0.41) offer. Meanwhile, CapitaLand Ascendas Reit (Clar) is pursuing a $1.0 billion asset purchase, raising...