Lenders address adaptation finance gap
Multilateral development banks, development finance institutions, commercial banks and institutional funds are working together to unlock billions of dollars of private financing to address the climate adaptation finance gap, especially in emerging markets, where investments yield higher environmental and social impact per unit of capital employed.
Beta begins countdown to NYSE debut despite SEC paralysis
Beta Technologies is looking to go public despite the lingering US government shutdown, with the soft launch of its US$825m NYSE IPO Wednesday afternoon beginning the 20-day countdown to when it could begin trading without SEC sign-off.

Breitling lurches over Triple C precipice
Breitling's €890m term loan B has dropped by almost six percentage points in the secondary market as investors fear the downgrades could keep coming for the Partners Group-owned luxury watchmaker after it was put on the brink of Triple C territory in July, sources said.

Prasad Gollakota
Swiss authorities and the country’s largest bank are in a standoff. Earlier this year, Switzerland’s banking supervisor, Finma, put forward a proposal to force UBS to hold tens of billions of Swiss francs more in capital. Swiss politicians and regulators say that, in the wake of the collapse of Credit Suisse, they have no choice but to harden the system, protect taxpayers and ensure that UBS and the broader Swiss economy can weather any potential economic or banking crisis. Some reports suggest that UBS will be required to hold up to SFr21bn (US$26bn) in extra capital.

Hong Kong equities traders are enjoying their most profitable year on record as a remarkable rally in local stocks, renewed interest from international investors and booming equity capital markets have driven a surge in client activity.
Private markets asset management firm Tower Peak Partners has bought a portfolio of growth equity companies that provide employment and products to people and communities with disabilities that will seed a new US social impact fund.
Brendon Moran is leaving his role as co-head of UK corporate coverage at Societe Generale for an equally high-flying second career as a flight instructor.
Apollo Global Management has named Eiji Ueda as a partner and head of Asia Pacific, succeeding Matt Michelini.
Deutsche Bank has hired senior banker Anthony Parsons as executive chairman of origination and advisory. He was previously vice chairman of global banking at HSBC, which decided to close its M&A and equity capital markets businesses in Europe earlier this year.

Egypt's finance minister Ahmed Kouchouk has confirmed that the sovereign plans to return to the Panda and Samurai markets in the current fiscal year to access scale and cost-effective financing as part of a broader diversification strategy.
Gruppo San Donato, Italy's largest private hospital operator, is poised to price an upsized debut deal on Thursday, with pricing set to leave little on the table.
Paper and packaging company Mondi made the most of tight spreads to lock in refinancing needs for 2026. That was despite a more volatile week for spreads in the corporate sector.
Tokyo Metropolitan Government found a solid bid for its rare resilience-labelled bond following an investor roadshow that spanned two days.

The US solar asset-backed securities sector has regained some lustre, proving it is still a viable funding source for renewable energy issuers after a rough summer that cast a shadow over its future.

BPCE, a regular issuer of French public prime RMBS since 2018, priced the first deal from its newly created master trust programme amid good investor interest, despite political turbulence in France.

DCS Card Centre, formerly known as Diners Club Singapore, is evaluating asset-backed securitisations in US dollars, it said in response to IFR queries after the successful completion of its most recent S$450m (US$348.8m) ABS deal – its largest yet.
Commonwealth Bank of Australia returned to the RMBS market after a two-year absence on Thursday to print the A$1.5bn (US$990m) self-led funding-only Medallion Trust Series 2025-1, which sets a new benchmark for Australian securitisations.

Water-themed issuance hit a new high across international debt capital markets on Thursday as borrowers closed as many as three new blue bonds totalling nearly US$350m-equivalent, as well as marketing significant new green and resilience issues with water-related uses of proceeds.
Tokyo Metropolitan Government found a solid bid for its rare resilience-labelled bond following an investor roadshow that spanned two days.
Private markets asset management firm Tower Peak Partners has bought a portfolio of growth equity companies that provide employment and products to people and communities with disabilities that will seed a new US social impact fund.

Beta Technologies is looking to go public despite the lingering US government shutdown, with the soft launch of its US$825m NYSE IPO Wednesday afternoon beginning the 20-day countdown to when it could begin trading without SEC sign-off.
Suggesting insurers are best positioned to assess risk, Exzeo Group moved ahead with its NYSE IPO Thursday morning by soft launching what is a US$176m all-primary offering, becoming the latest company seeking to break through the US government shutdown.
Uzbek fintech Uzum is considering listing on the London Stock Exchange and other exchanges as it prepares for a 2027 IPO.
Wistron, which supplies AI servers to Nvidia, has raised US$1.2bn from Taiwan's largest ever convertible bond.

Chinese lenders are recalibrating their approach to the Belt and Road Initiative, strategically deepening their footprint in the Middle East while shifting from traditional infrastructure lending towards a more risk-aware and commercially driven approach.
The US leveraged loan market is showing signs of fatigue as investor appetite wanes for riskier credits amid rising volatility, tariff fears and slipping secondary prices, prompting a wave of pulled deals and growing selectiveness among lenders.
Trade bodies representing the global loan market have published a new transition loan guide that offers a framework for high-emitting companies to raise credible transition-labelled financing to fund decarbonisation.
Multilateral development banks, development finance institutions, commercial banks and institutional funds are working together to unlock billions of dollars of private financing to address the climate adaptation finance gap, especially in emerging markets, where investments yield higher environmental and social impact per unit of capital employed.
Breitling's €890m term loan B has dropped by almost six percentage points in the secondary market as investors fear the downgrades could keep coming for the Partners Group-owned luxury watchmaker after it was put on the brink of Triple C territory in July, sources said.

Read the latest stories from the magazine IFR 2604 - 11 Oct 2025 - 17 Oct 2025
11 Oct 2025 - 17 Oct 2025