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Vallourec to Raise $1.1 Billion With Nippon Steel's Help

2016-02-01 08:01:05| Steel - Topix.net

Vallourec SA, the French maker of steel tubes for the oil and gas industry, plans to raise 1 billion euros partly by selling new shares to fund its restructuring in Europe and Brazil as the slump in oil prices has prompted oil companies to cut investment. The group intends to raise new capital through a combination of a rights issue of about 510 million euros, with the balance coming from a so-called mandatory convertible bond reserved to French state-owned fund Bpifrance and Japanese steelmaker Nippon Steel & Sumitomo Metal Corp., the company based near Paris said Monday in a statement.

Tags: help raise billion nippon

Low prices raise concerns China carbon market

2016-01-29 15:35:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate Home: The development of a national carbon market in China is perhaps the biggest single tool for slashing greenhouse gas emissions in the world. According to UK envoy Sir David King, who recently returned from Beijing, it could ultimately link up with the EUs emissions trading system (ETS). But recent data from Chinas seven regional pilots shows a surplus of allowances is depressing the carbon price as happened in Europe. That makes it a weak signal for investment in clean technology. The...

Tags: low china market prices

Banks raise 30 billion yuan for clean projects in China's first green bond auctions

2016-01-29 10:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Carbon Pulse: Shanghai Pudong Development Bank and China Industrial Bank this week raised 30 billion yuan ($4.56 billion) in funding for environmental projects, including efforts to cut carbon emissions, as they held their first green bond auctions. The two banks were last week picked by the Chinese government as the first two financial institutions to be awarded quotas for fundraising through green bonds, each allowed to raise 50 billion yuan over three years. Both held over-subscribed auctions this week, achieving...

Tags: green projects clean auctions

Big four banks set to raise capital again

2016-01-28 10:36:57| Automakers - Topix.net

Australia's big four banks's dividend payout ratio, at an average 78 per cent, the highest among banks worldwide. Some of the world's fattest bank dividends are at risk as Australia's four dominant banks, which together raised a record amount of equity capital last year, come under pressure to add more amid a potential rise in bad debts.

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