As Texans were urged to flee the Gulf Coast ahead of Hurricane Harvey’s predicted late-Friday landfall, the capital markets retreated as only one deal (1 CVT) priced for total proceeds of $345.0M last week.
As geopolitical tensions caused a pullback in many of the world’s major indices, the new issuance market seemed to shrug off any concern as the week’s issuance volume increased to 32 deals (3 IPOs, 14 FOs, 10 BLKs, and 5 CVTs) for aggregate proceeds of $8.4B.
In a week that turned the calendar to the first week of August, the new issuance market saw a marginal increase in volume as 13 deals (2 IPOs, 7 FOs, 2 BLKs, and 2 CVTs) priced for aggregate proceeds of $3.0B.
Last week, the new issuance market welcomed 12 deals (5 IPOs, 4 FOs, 2BLKs, and 1 CVT) to the market for aggregate proceeds of $2.0B, following the 23 deals for $9.5B in total proceeds the week prior.
As both Andy Murray and Novak Djokovic were eliminated in the quarter-final stage of Wimbledon last week, the capital markets brought eight deals (1 IPO, 7 FOs) to market for aggregate proceeds of $833.7M.
While many are looking forward to the fireworks for the Fourth of July celebration, the new issuance market also had something to celebrate as 22 deals (9 IPOs, 9 FOs, 3 BLKS, and 1 CVT) priced for $3.5B in total proceeds.