Hypo Real Estate Holding AG, the German lender that received a government bailout, drew offers of as much as 350 million euros ($472 million) for Dublin-based Depfa Bank Plc, two people familiar with the matter said.
A new rule forcing banks to sell a type of complex debt security created before the financial crisis is having a surprising effect: luring buyers to the market and driving up the prices of those bonds.
BlackRock Inc. said it complied with Italian disclosure requirements after a regulator said the world’s largest money manager may have broken rules by failing to report an increase of its stake in Telecom Italia SpA.
Telecom Italia SpA, responding to a market regulator’s questions, said it prioritized BlackRock Inc, Telefonica SA and Och-Ziff Capital Management Group LLC in its mandatory convertible bond sale last month.
Qinhuangdao Port Co., operator of China’s biggest coal port, is seeking as much as $717 million in a Hong Kong initial public offering as first-time share sales in the city rebound from a nine-year low.
Bank of America Corp., JPMorgan Chase & Co. and three other banks agreed to pay $25 million to New York to resolve some monetary claims over the use of a mortgage database after reaching a $25 billion national settlement over foreclosure practices.
Zain Fancy, who joined Och-Ziff Capital Management Group LLC from Morgan Stanley in 2008, sued two units of the New York-based hedge fund manager in Singapore, claiming they withheld $7.9 million in pay and stock that he was owed.