Brookfield Asset Management Ltd. and Singapore’s GIC Pte are seeking a A$2.77 billion ($1.96 billion) loan to back the purchase of Sydney-listed National Storage REIT , according to people familiar with the matter. Half a dozen banks — including DBS Group Holdings Ltd. , National Australia Bank Ltd. and United Overseas Bank Ltd. — have been appointed as underwriters for the borrowing, which compri...
Brookfield Asset Management Ltd. and Singapore’s GIC Pte are seeking a A$2.77 billion ($1.96 billion) loan to back the purchase of Sydney-listed National Storage REIT , according to people familiar with the matter. Half a dozen banks — including DBS Group Holdings Ltd. , National Australia Bank Ltd. and United Overseas Bank Ltd. — have been appointed as underwriters for the borrowing, which comprises several tranches split across three- and five-year tenors, said the people, who asked not be identified discussing private matters. Brookfield and GIC declined to comment. The marketing of the loan came after the US-headquartered money manager and Singapore’s sovereign wealth fund agreed in December to a binding deal to buy Australia’s largest self-storage provider for around A$4 billion. The planned acquisition would be a boost for dealmaking in Down Under, which has been relatively subdued despite being one of the region’s more mature markets. Late last year, EQT AB and CVC Asia Pacific Ltd. scrapped talks with AUB Group Ltd. about a possible takeover that had valued the Australian insurance broker at around A$5.2 billion, while BHP Group walked away from a fresh offer to buy Anglo American Plc. The volume of M&A deals involving Australian companies fell to around $86 billion last year, a 33% decline in 2024, according to data compiled by Bloomberg. That compares with a 23% volume jump across the broader Asia Pacific region, driven by surges in activity in Japan and China. Europe and the US also showed solid growth. Blue Owl’s Stack Adds to AI Debt Rush With $2.1 Billion Loan Adani Energy Secures $750 Million Loan Led by Japanese Banks Nvidia-Backed AI Startup Gets $10 Billion in Blackstone-Led Loan The loan sought by Brookfield and GIC pays an interest margin of 135 and 155 basis points over Australia’s benchmark Bank Bill Swap Rate for the three- and five-year tenors, respectively, the people said. National Storage has grown from a first storage site in 1995 in Oxle...
Citigroup Inc. expects Indonesian corporates to push ahead with dollar bond sales this year, even after Moody’s Ratings’ decision to lower its outlook on the government’s credit score earlier this month came as a blow. “What I can tell you is when I meet the companies, because I was just there for a trip recently, they continue to be fully invested in their growth plans,” said Nitesh Dugar , head ...
Citigroup Inc. expects Indonesian corporates to push ahead with dollar bond sales this year, even after Moody’s Ratings’ decision to lower its outlook on the government’s credit score earlier this month came as a blow. “What I can tell you is when I meet the companies, because I was just there for a trip recently, they continue to be fully invested in their growth plans,” said Nitesh Dugar , head of debt capital markets for South and Southeast Asia at the US bank. Dugar said he expects Indonesian borrowers to lead a 10% to 15% increase in bond issuance from Southeast Asia in dollars this year. While Moody’s rating action initially pushed up yield premiums on dollar bonds of the government and Indonesian companies, investors later pared those moves and spreads on better-rated debt from the country are near multi-year lows, a Bloomberg index shows. That is in part because of the upbeat outlook for the nation’s economy, Southeast Asia’s largest. The International Monetary Fund upgraded its growth forecast for the nation last month to 5.1% for this year and next, one of the fastest for any major economy. Southeast Asia is one of the fastest growing regions in the world, and even with dollar debt sales from the region increasing by 56% to $9.4 billion so far this year, that amount is still a fraction of some bond offerings by US technology firms in 2026, reducing pressure on the Asian yield premium. A 10% rise in Southeast Asia issuance over last year would result in at least $43 billion in debt sales from the Asian subregion, the most in five years, based on Bloomberg-compiled data. Dugar also foresees deals from Malaysian borrowers. The Malaysian sovereign is a relatively rare issuer in the dollar market and has a $1 billion Islamic note due in April, based on data compiled by Bloomberg. “In Asia, we don’t have the jumbo deals,” said Dugar. “So investors still continue to have abundant liquidity to deploy.” Read also: Prabowo Puts Indonesia on Collision Course With Glo...
Goldman Sachs chief legal officer Kathy Ruemmler has resigned, CEO David Solomon said on Thursday, after recent documents by the US Justice Department showed she accepted gifts from late sex offender Jeffrey Epstein and advised him on how to address media inquiries regarding his crimes. The departure of Ruemmler, who was among the top executive officers of the Wall Street firm, is the most high-p...
Goldman Sachs chief legal officer Kathy Ruemmler has resigned, CEO David Solomon said on Thursday, after recent documents by the US Justice Department showed she accepted gifts from late sex offender Jeffrey Epstein and advised him on how to address media inquiries regarding his crimes. The departure of Ruemmler, who was among the top executive officers of the Wall Street firm, is the most high-profile banking exit after the release of the latest Epstein documents by the US Justice Department...
Earnings Call Insights: Capstone Green Energy Holdings, Inc. (CGEH) Q3 2026 Management View Vincent Canino, CEO, President & Director, highlighted that "the third quarter was another strong period for Capstone Green Energy. Our results reflect continued momentum across the business with revenue growth, margin expansion and improved profitability driven by disciplined execution of our 3-pillar stra...
Earnings Call Insights: Capstone Green Energy Holdings, Inc. (CGEH) Q3 2026 Management View Vincent Canino, CEO, President & Director, highlighted that "the third quarter was another strong period for Capstone Green Energy. Our results reflect continued momentum across the business with revenue growth, margin expansion and improved profitability driven by disciplined execution of our 3-pillar strategy." He noted revenue was $26.8 million for the quarter, marking a 33% increase year over year, and year-to-date revenue reached $83 million, a 42% increase over the same period last year. Canino emphasized the shift in product mix toward larger capacity products and strong service business performance. Canino reported that Q3 marked the seventh consecutive quarter of positive adjusted EBITDA, reaching $5.1 million in the quarter and $12.3 million year-to-date. Canino discussed ongoing cost reduction efforts, stating, "This project delivers a 71% cost savings while also giving us a multipurpose tool that supports future needs." John Miller, Interim CFO & Director, stated, "We delivered gross profit of $10.4 million, more than double the prior year and expanded gross margin to 39%, up 14 points." Miller added, "We also delivered our second consecutive quarter of positive net income, reporting $1.2 million for the quarter compared to a loss of $2.7 million a year ago." Canino provided updates on product development: "For the 800-volt DC product, which technically is complete, we have been working on developing 2 key pieces of technology to provide a more comprehensive offering...We expect to have our SPS prototype complete by the end of this month." Outlook Canino indicated, "We expect we will be able to offer [the 5 ppm NOx product] within the next 3 to 6 months." The company confirmed ongoing work to expand its C250 engine program, with plans to build a second test prototype and aim for new 1-megawatt and 1.5-megawatt units. Early results from the Heat Recovery Module (HR...
Mrkit99/iStock Editorial via Getty Images Having delivered a surge in profits in recent years, how much could be retained in a lower interest rate environment has been a key question facing Italian bank UniCredit ( OTCPK:UNCRY ) ( OTCPK:UNCFF ). Well, management has delivered an emphatic answer, guiding for the bank's return on tangible equity to rise from 19% in 2025 to around 25% by 2030. Unthin...
Mrkit99/iStock Editorial via Getty Images Having delivered a surge in profits in recent years, how much could be retained in a lower interest rate environment has been a key question facing Italian bank UniCredit ( OTCPK:UNCRY ) ( OTCPK:UNCFF ). Well, management has delivered an emphatic answer, guiding for the bank's return on tangible equity to rise from 19% in 2025 to around 25% by 2030. Unthinkable a few years ago, this durability has been well rewarded by the market. UniCredit's ADSs have returned around 24% since my last update last summer, a run that has left its shares at around 1.9 times tangible book value. Recommending the stock at that kind of valuation isn't easy, but with UniCredit in a position to return substantial amounts of capital to shareholders in the years ahead, I remain bullish. I rate shares "Buy". Data by YCharts Resilient Net Interest Revenue UniCredit revealed its 2025 results this week. Despite a backdrop of lower European interest rates, full-year net income grew 14% to €10.1 billion, while the return on tangible equity improved 150 bps to 19.2%. The durability of UniCredit's net interest revenue has been a key part of my investment case for the bank. In theory, UniCredit should be sensitive to lower interest rates. That's because it benefits enormously from a large stock of low-cost domestic funds, with the bank paying just 0.27% on its Italian deposits last quarter. With limited ability to reduce this much further when interest rates fall, UniCredit should see flagging interest margins and revenue. With that in mind, NIR has held up well. While it did fall 4.3% last year to €13.7 billion, this is off a cycle high. Quarterly trends suggest it may have already troughed, as NIR grew €60 million sequentially last quarter to €3.43 billion. Source: UniCredit Q4 2025 Results Presentation UniCredit's deposit hedging program has contributed to this performance. To keep things simple, readers can imagine this as being like a large bond portfoli...
Synera Renewable Energy Co. , a portfolio company of Stonepeak Partners , is seeking $800 million of private credit for its offshore wind farm project in Taiwan, according to people familiar with the matter, amid the push for green power supply expansion in the country. Proceeds from the proposed loan will be used to fund the construction and ramp-up of the Formosa 2 offshore wind farm project, sa...
Synera Renewable Energy Co. , a portfolio company of Stonepeak Partners , is seeking $800 million of private credit for its offshore wind farm project in Taiwan, according to people familiar with the matter, amid the push for green power supply expansion in the country. Proceeds from the proposed loan will be used to fund the construction and ramp-up of the Formosa 2 offshore wind farm project, said the people, who asked not to be identified because the proposed deal is private. Stonepeak declined to comment. Synera did not respond to a request for comment. Taiwanese Vice Premier Cheng Li-chiun earlier this year instructed government ministries to continue strengthening green finance support for offshore wind power projects, according to a cabinet statement. Offshore wind power development is expected to require around NT$2 trillion ($64 billion) in funding by 2035, the statement said. Located off the coast of Miaoli County in Taiwan, Formosa 2 has an installed capacity of 376 MW, and has signed a 20-year power purchase agreement with Taiwan Power Company, according to a website .