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Treasury
Market Chatter: China Sells 5 Billion Euros Worth of Euro-Denominated Bonds
The Chinese Ministry of Finance sold a total of 5 billion euros worth of euro-denominated bonds, its largest-ever deal in the currency and the second since November 2025, Bloomberg News reported Thursday, citing a person with knowledge of the matter.The five-year, eight-year, and 12-year euro-denominated notes have spreads at 3, 12, and 22 basis points above the mid-swap rate, respectively, the report said.The offering attracted more than 29.8 billion euros in bids as of 12:30 pm London time, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Shanghai Composite^SZSE
Treasury
Core & Main Prices $750 Million Senior Notes Offering
Core & Main (CNM) said late Thursday that its subsidiary, Core & Main LP, has priced a $750 million offering of 6.000% senior notes due 2034.Net proceeds will be used to prepay a portion of its senior term loan due July 27, 2028, and for general corporate purposes, the company said. It expects to close the offering July 1.
$CNM
Treasury
Aecon Group to Buy Oaktree's 27.5% Stake in Utilities Unit for C$320 Million
Aecon Group (ARE.TO) on Thursday said agreed to acquire the convertible preferred equity investment held by funds managed by Oaktree Capital Management in its Aecon Utilities subsidiary for C$320 million, increasing its ownership ahead of an expected fourth-quarter closing.The purchase price is based on Oaktree's as-converted 27.5% ownership interest in Aecon Utilities and values the business at about C$1.2 billion on an equity basis and C$1.5 billion on an enterprise value basis.The transaction implies a 13.0-times enterprise value multiple on Aecon Utilities' trailing 12-month acquisition-related pro forma adjusted EBITDA to March 31, 2026.The deal positions Aecon to capture the full economic benefit associated with Aecon Utilities' electrical, communications, and pipeline distribution end-markets, the company said.Aecon shares closed down C$0.33, 0.8%, to C$43.76 on the Toronto Stock Exchange.
$ARE.TO