Macquarie Group Ltd., Australia’s biggest investment bank, has boosted its funding with short-term notes to the highest share since the crisis of 2008, increasing its exposure to any disruptions in money-markets.
IVG Immobilien AG, the German property company that’s lost most of its market value, submitted a plan to a Bonn court to cut its debt by 2.2 billion euros ($3 billion) and issue new shares. The deal would transfer ownership to IVG’s creditors.
Anglo Irish Bank Corp.’s loans to 16 clients to buy shares in the lender as former billionaire Sean Quinn’s family unwound a derivatives position were a “last roll of the dice,” the bank’s one-time chief financial officer said at a Dublin trial.
Mirae Asset Management Co. is avoiding junk bonds of Mongolian Mining Corp. in the absence of a rebound in coal prices, as Moody’s Investors Service says any so-called distressed exchange would add to downgrade risks.
Spain’s 10-year government bonds fell, snapping gains that pushed the yield below 3.5 percent for the first time in eight years, before the country sells as much as 5 billion euros ($6.88 billion) of debt tomorrow.