Farewell to Queen Elizabeth II

September 21, 2022

Good Morning,

ANZ continues to increase fixed home loan rates as interest rates rise, Russia is 'clearly in a panic' as Ukraine poses counteroffensive strategy, Taupo volcano alert level increased following hundreds of small earthquakes, the world says their final farewells to Queen Elizabeth II at funeral, Treasury Two Year Yields climbed towards 4%, heading towards its steepest increase since 1994 and the US housing momentum falls as worry sets ahead of Fed's decision.

Let's jump in.

Before The Bell

Markets

  • Investors remain wary ahead of the Fed's potential rate hike

  • The world says its final farewell to Queen Elizabeth II

News Summary

  • PepsiCo fulfils promise to Ukraine and ends production of Pepsi and 7UP in Russia (RT)

  • ANZ continues to increase fixed home loan rates as interest rates rise (Stuff)

  • Russia is 'clearly in a panic' as Ukraine poses counteroffensive strategy (Herald)

  • Taupo volcano alert level increased following hundreds of small earthquakes (RNZ)

  • The world says its final farewells to Queen Elizabeth II at her funeral (BBC)

  • Treasury Two Year Yield climb towards 4%, heading towards its steepest increase since 1994 (BBG)

  • US housing momentum falls as worry sets ahead of Fed's decision (AFR)

  • Japanese Yen shows weakness at 24-year lows (CNBC)

Deal Flow

Investments/ M&A

  • Federal judge rules against $15 billion (USD) deal for UnitedHealth Group Inc to acquire Change Healthare Inc (WSG)

  • Zendesk shareholders have approved a $10.2B (USD) bid by a group of PE firms led by Hellman & Friedman and Permia to take the company private (RT)

  • KnowBe4, a cyber security firm, has received a $4.22B (USD) go-private offer from Visa Equity Partners (RT)

  • German football governing body DFL will launch the sale of media rights for the Bundesliga later in October with an aim to get $3.6B (USD) in the sale (RT)

  • Telecom firms TIM, Telefonica Brasil and Claro are seeking to lower the price they paid for rival telecommunication firm Oi's mobile division by ~$605m (USD) (RT)

  • South African listed gold mine AngloGold Ashanti will pay $150m (USD) to acquire Coeur Mining's Nevada gold projects (RT)

  • Move Logistics slam on the brakes on its $15m deal to acquire Fluidex Transport (NBR)

  • Momentum Markets set to acquire Money Management (AFR)

Equity Raises

  • Volkswagen seeks $9.4 billion (Euro) from the Porsche IPO (BBG)

  • The grocery delivery app Instacart focuses IPO on selling employees' shares (WSG)

  • Encounter Resources was seeking to raise $3m (AUD) at a 17.2% discount (AFR)

  • Victory Goldfields was seeking to raise $1.5m (AUD) at a 9.1% discount (AFR)

  • 90 seconds a video creation business has plans for a 2023 IPO (AFR)

VC & Fundraising

  • Retail startup Swifty systems raise $100m taking their value to $1 billion (TC)

  • DTCP makes use of SoftBank for its next $300-$600m fund (TC)

Debt Raises

  • A group of banks led by Bank of America and Credit Suisse are being forced to offer stepper discounts to sell more than half of the $15B debt package supporting the buyout of Citrix (BBG)

  • A group of banks led by Barclays and Bank of America launched a $1.87B (USD) high-yield bond and a $2B (USD leverage loan sale, respectively, to help finance Apollo's acquisition of internet provider Brightspeed (BBG)

  • NBN Co has priced its four-year unsecured bond at 4.75% yield (AFR)

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