As the 2018 NBA Playoffs officially kicked off last week, the new issuance market regained some of its confidence as 17 deals priced (4 IPOs, 9 FOs, and 4 CVTs) for combined proceeds of $3.1B.
With spring providing the season’s first dose of beautiful weather in the Northeast, the new issuance market sprang into action, pricing 10 deals (2 IPOs and 8 FOs) for combined proceeds of $6.0B.
In U.S. economic news, the third estimate of fourth-quarter GDP came in at 2.9%, increasing from the prior-quarter reading of 2.5%, and beating consensus estimates of 2.6% growth. The Office for National Statistics illustrated a picture of slower than expected economic growth for the fourth-quarter in the U.K. Gross Domestic Product expanded by 0.4% quarter-on-quarter, below the 0.5% exhibited in the prior period. South Korean gross domestic product expanded by a seasonally adjusted 0.2% on-quarter during the fourth-quarter of 2017, slowing significantly from the 1.4% gain realized in the third quarter.
As everyone gears up for the 2018 Final Four this weekend, the new issuance market continued to impress, pricing 18 deals (6 IPOs, 8 FOs, 2 BLKs, and 2 CVTs) for combined proceeds of $7.1B.