Getty offers double-digit yield on new junk bond amid AI concerns
Getty Images is offering a double-digit yield on its first US junk bond in over six years as the company seeks to entice investors concerned over how artificial intelligence will impact its business of selling stock images and other visual content.
US IG market stays robust despite government shutdown
The US investment-grade market is seeing continued momentum in new issuance despite the lack of official jobs data amid the government shutdown.

Cerebras aims to go public in 2026 despite withdrawing IPO filing
Cerebras Systems withdrew its IPO filing late Friday but is still hoping to go public in the middle of 2026, a procedural move that comes after the AI chipmaker last week raised US$1.1bn of private funding, sources close to the company told IFR.
FIG issuers navigate market caught off guard by France headlines
European lenders Piraeus and Swedbank navigated a session waylaid by adverse political headlines on Monday to secure strong euro bond transactions, with the former smashing records for Greek Additional Tier 1 pricing with a €600m perpetual non-call seven-year offering.

Jezz Farr
What to do if the president of the United States claims your product could trigger neurological behavioural differences in children, as he has suggested with Tylenol and autism? A PR challenge if ever there was one.

JP Morgan has appointed Conor Hillery and Matthieu Wiltz as co-heads of Europe, Middle East and Africa following Filippo Gori's move to New York as co-head of global banking.
The Japanese government bond yield curve has steepened sharply in reaction to the surprise election of Sanae Takaichi on Saturday as the new leader of the Liberal Democratic Party and thus prospective prime minister.
The Reserve Bank of India has proposed to relax external commercial borrowing rules for Indian companies to make it easier for them to access the offshore markets, according to a draft framework released on October 3.
Global M&A activity topped US$1trn last quarter for the first time in more than three years, sparking optimism that a pickup in investment banking fees will accelerate into 2026.

The European Union has mandated an unusually large and EU-centric syndicate of banks for the dual-tranche benchmark offering that is set to launch on Tuesday.
Getty Images is offering a double-digit yield on its first US junk bond in over six years as the company seeks to entice investors concerned over how artificial intelligence will impact its business of selling stock images and other visual content.
European lenders Piraeus and Swedbank navigated a session waylaid by adverse political headlines on Monday to secure strong euro bond transactions, with the former smashing records for Greek Additional Tier 1 pricing with a €600m perpetual non-call seven-year offering.
The European Union faces another complicated market for its next syndication after the resignation of yet another French prime minister and recent proposals for a €140bn loan to Ukraine using frozen Russian assets

Ashland Place Finance on Tuesday issued its second aviation loan securitisation further taking this year's supply from the sector past the total for the whole of 2024.

The US Securities and Exchange Commission is seeking public comments on whether it is time to relax disclosure requirements to encourage more public-registered offerings of non-agency mortgage bonds.
US asset-backed issuance rang up its biggest third-quarter volume in the post-credit crisis era as issuers continued to take advantage of favourable funding conditions and keen investor demand.

Dunkin' Brands is serving up a US$900m whole business securitisation, taking advantage of strong demand in this corner of the ABS market.
Supply from relatively rarely seen jurisdictions is landing in the market, with two from Portugal and one from the Netherlands. Nevertheless, market participants are starting to question the resilience of spreads following several weeks of sustained ABS dealflow after the summer.

The Czech Republic has ended its long absence from ESG bond markets with a rare sovereign social bond issue.
The UN Environment Programme has launched a tool to help banks engage with clients on nature, underscoring the growing focus on nature-related disclosure in the financial services industry.

The International Finance Corp’s recent collateralised loan obligation is set to ramp up the fledgling multilateral development bank securitisation market, ushering in regular issuance, new names and even potential commingled deals with multiple loan originators.

Cerebras Systems withdrew its IPO filing late Friday but is still hoping to go public in the middle of 2026, a procedural move that comes after the AI chipmaker last week raised US$1.1bn of private funding, sources close to the company told IFR.
Domestic investors comprised 55% of the 149 anchor investors that agreed to buy 30.5m shares in LG Electronics India's Rs116bn (US$1.31bn) IPO.
Swedish home security business Verisure is giving a little back on its mammoth €3.155bn Nasdaq Stockholm IPO, with final guidance coming just below the top of the range despite the ability to price at the maximum.

JP Morgan is spearheading a US$20bn debt package to back the US$55bn buyout of video game maker Electronic Arts – the largest leveraged buyout in history and the biggest committed LBO financing on record.
Factoring and supply chain finance, once considered savvy tools for companies to manage cashflow, are once again under the microscope of leveraged loan investors after the spectacular blowup of US auto parts supplier First Brands.
Syndicated lending in EMEA totalled US$1.01trn in the first nine months of the year, a 16.9% increase on the previous year, according to LPC data, as the market proved resilient in the face of tariff volatility.

Global Infrastructure Partners has launched a US$530m loan to construct a data centre in Thailand, the first syndicated loan that will fund the kingdom’s emergence as South-East Asia’s second-largest market for the rapidly growing industry.

Read the latest stories from the magazine IFR 2603 - 4 Oct 2025 - 10 Oct 2025
4 Oct 2025 - 10 Oct 2025
Game on
The world’s biggest LBOs have – to put it mildly – something of a chequered history. Texas utility TXU Energy, the company involved in the 2007 deal that is currently the largest LBO in history, quite quickly went bankrupt in large part because of the US$45bn of debt the deal foisted on it. The £11.1bn 2007 take-private LBO of Alliance Boots is another symbol of pre-financial crisis excess, while the granddaddy of all jumbo LBOs – RJR Nabisco’s US$25bn buyout in 1989 – hardly fared much better.
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