Mediobanca SpA is preparing to cut its holdings in Telecom Italia SpA and Assicurazioni Generali SpA as the bank seeks to fund its expansion abroad, according to a person with direct knowledge of the lender’s strategy.
Junk-rated borrowers from Rite Aid Corp. to Atkins Nutritionals Holdings Inc. are raising a riskier type of loan that offers a lesser claim on their assets at a pace last seen before the financial crisis.
Tanzania’s Finance Ministry said it plans to raise as much as $700 million through selling debt to selected investors and commercial bank loans to help tackle unreliable electricity supplies and poor infrastructure.
Sales of corporate bonds in Europe fell to the lowest in two months this week as the cost of insuring the debt against losses rose with investors anticipating a withdrawal of central banks’ stimulus measures.
Apollo Tyres Ltd., which lost a quarter of its market value yesterday after announcing the biggest takeover by an Indian company in the U.S., will sell junk bonds to fund the $2.5 billion purchase, prompting analysts to warn the debt will strain the tiremaker’s finances.
Chinese banks extended at least $8.3 billion in loans for acquisitions and leveraged buyouts this year, seeking to generate new business as a bond-market boom cut syndicated lending to a four-year low.
Mongolia’s central bank plans to cut interest rates on mortgages by almost half to 8 percent from around 15 percent this month, following a new policy approved by the government to ease financial burdens on the middle class.