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Germany starts selling Aug 2050 bond reopening via syndication – lead managers

AMC To Reopen Most U.S.and U.K. Theatres In July

AMC Entertainment Holdings said that it plans to reopen almost all of U.S.and U.K. theatres in July. It had suspended the operations in US on March 17 following the Covid-19 outbreak.

The world’s largest theatre chain said it could be in position to showcase Warner Bros’ release of Christopher Nolan’s TENET now slated for release on July 17th followed by Disney’s MULAN scheduled for release on July 24th, the company said in a statement.

The company has already reopened 10 theatres in Norway, Germany, Spain and Portugal, and expects to fully open globally in July.

AMC said it is in discussion with Universal, and no movies made by Universal Studios are currently on its docket.

The company, which earlier this month said it had substantial doubt in its ability to continue its business as theaters across the world remain closed, said its net loss for the first-quarter widened to $2.18 billion from last year $130.2 million due to an impairment charge.

AMC saw virtually no revenue for the two weeks of the first quarter.

Quarterly revenues dropped 21.6 percent year-over-year to $941.5 million.

The company said it has taken and continues to take significant steps to preserve cash by eliminating non-essential costs. It included full or partial furloughs of all corporate-level company employees, and suspending stock repurchase program.

Sensex jumps over 200 pts in opening session; Nifty tops 10,100

IndusInd Bank was the top gainer in the Sensex pack, rising around 2%

Equity benchmark Sensex advanced over 200 points in early trade on Wednesday tracking gains in index-heavyweights HDFC twins, Reliance Industries and Kotak Bank amid sustained foreign fund inflows.

After opening at 34,205.07, the 30-share index was trading 202.71 points, or 0.60%, higher at 34,159.40. Similarly, NSE Nifty advanced 55.15 points, or 0.55%, to 10,101.80.

IndusInd Bank was the top gainer in the Sensex pack, rising around 2%, followed by HDFC, Kotak Bank, Tech Mahindra, HCL Tech and UltraTech Cement. On the other hand, Tata Steel, Hero MotoCorp and Infosys were among the laggards.

In the previous session, the BSE barometer settled 413.89 points or 1.20% lower at 33,956.69, and the broader Nifty ended 120.80 points or 1.19% down at 10,046.65.

On a net basis, foreign institutional investors bought equities worth ₹490.81 crore in the capital market on Tuesday, provisional exchange data showed.

According to analysts, market opened on a positive note as fresh foreign fund inflows and stock-specific gains led benchmarks higher. On the global front, bourses in Hong Kong and Seoul were trading with gains, while those in Shanghai and Tokyo were in the red. Stock exchanges on Wall Street ended on a mixed note in overnight trade.

International oil benchmark Brent crude futures fell 1.60% to $40.52 per barrel.

Dun & Bradstreet files for a $1B IPO

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Dun & Bradstreet has taken the steps to become publicly traded again.

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The company that provides commercial data analytics services, filed its intentions Tuesday with the Securities and Exchange Commission to raise up to $1.0 billion in an initial public offering in a report from Renaissance Capital.

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The company plans to list on the New York Stock Exchange under the symbol DNB.  Pricing details have yet to be disclosed.
An investor consortium led by shareholders Cannae Holdings, Black Knight and CC Capital Management took the company private in February 2019.

ONLINE USED CAR SELLER VROOM RAISES $467.5M IN IPO

The Short Hills, NJ-based company was founded in 1841.

Goldman Sachs and BofA Securities are the joint bookrunners on the deal.

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Paragon H1 Profit Down, Margin Rise; Says Weak Lending Volume To Hurt Income

Paragon Banking Group plc (PAG.L) reported Wednesday that its first-half profit before tax fell 20.7 percent to 57.1 million pounds from last year’s 72.0 million pounds. Basic earnings per share dropped to 17.6 pence from last year’s 22.5 pence.

Group’s underlying profit before tax was 57.2 million pounds, compared to last year’s 79.8 million pounds. Underlying basic earnings per share were 17.6 pence, compared to 25 pence a year ago.

The results were hurt by 27.7 million pounds of Covid-19 related charges.

Total operating income grew 1.1 percent to 149.7 million pounds from 148.0 million pounds a year ago. Net Interest Margin was 229 basis points, up from 224 basis points last year.

Further, the company took the decision not to declare an interim dividend amid the uncertainties arising from Covid-19. The appropriate level of dividend for the financial year as a whole will be considered before the results for the year are published.

As of now, over 90 percent of employees working from home.

Looking ahead, the company noted that reduced demand across the UK economy will lead to decreased lending volumes which in turn will impact on the Group’s future income. At this stage, it is difficult to predict when lending markets will return to normality.

Egypt's annual urban consumer price inflation slowed to 4.7% in May -CAPMAS

CAIRO, June 10 (Reuters) – Egypt’s annual urban consumer price inflation rate slowed to 4.7% in May from 5.9% in April, the official statistics agency CAPMAS said on Wednesday.

Germany starts selling Aug 2050 bond reopening via syndication – lead managers

LONDON, June 10 (Reuters) – Germany started selling a tap of its bond due August 2050 via a syndicate of banks on Wednesday, according to memos from two lead managers seen by Reuters.

Price guidance is around 4.5 basis points over the country’s outstanding Aug 2048 bond.

Pricing is expected later on Wednesday. BNP Paribas, Danske Bank, Deutsche Bank, Goldman Sachs and JP Morgan are arranging the sale. (Reporting by Yoruk Bahceli, editing by Maiya Keidan)