Tag: merrill

Yes Bank raises $225 million and truck financing company Shriram Transport issues $125 million worth of new shares just before equity markets take another dip. The Chinese producer of coking coal achieves a coupon of only 1.5%, but offers investors a back-ended yield-to-put of 3.5%. The aluminium giant seeks to raise at least $1.89 billion and to become the first Russian company to list in Hong Kong. Investors flock to the deal believing it is a precursor to asset injections from controlling shareholder PetroChina. Stephen Corry replaces Tony Stanton as Asia chief investment officer of Merrill's wealth arm, while Wilson So joins as head of North Asia global wealth management advisory. The deal prices significantly inside fellow Chinese property developer Country Garden, which reopened the high-yield market with a $300 million deal in September. The Chinese property developer ends two days of speculation over the fate of its deal, saying it will relaunch the IPO at a revised price range that could make it up to 34% ... Bank of America is told that it cannot use attorney-client privilege to withhold information about why BoA shareholders didn't receive material disclosures regarding Merrill's ... State-owned Korea National Housing Corporation is the latest, but not the last, Korean borrower to tap the US dollar market this year and achieves the lowest yield spread so far. Yet another Japanese mega-bank succeeds in raising capital, despite a bumpy ride. The private equity investor buys $80 million of CBs with warrants in Daphne International that could give it a stake of up to 14.5% in the Hong Kong-listed company. Temasek says Ho Ching will stand down as CEO later this year and be replaced by former BHP Billiton boss Charles Goodyear. Merrill Lynch puts the finishing touches to its Asian Real Estate Opportunity Fund having raised $2.65 billion. Merrill takes an entire team of bankers focusing on the power industry from Lehman. Michael Halloran moves from UBS to lead Merrill Lynch's Pacific Rim fixed income, interest rate, currency and commodities team. Australia, Korea and India are the largest underweights in the firm’s latest model portfolio. Merrill Lynch expects the combined assets of the world’s high-net-worth individuals to reach $59.1 trillion by 2012, led by those in the Middle East, Latin America, and Africa. A deal with Jasper Investments suggests that the company's legal difficulties may have come to an end. Solid investment-grade issuers that have strong balance sheets are the ones that will find opportunity in the volatile credit markets, says Jason Murray. The high-profile deal between shipping company Neptune Marine and a group of investors introduced by Merrill Lynch, hits an unexpected legal roadblock.