May Mobility Inks $1.4B SPAC Deal: Inside the 12% PIPE
May Mobility agrees to go public at a $1.4B valuation via ACP Holdings SPAC, backed by a $120M 12% preferred PIPE structured for high-rate public markets.
capital markets
Fed Hikes Rates to 4.00%: Bond Yields and Dot Plot Reaction
The Federal Reserve raised its policy rate 25 bps to 3.75%-4.00% in a 12-0 vote, lifting 2026 dot plot forecasts to 4.1% as Treasury yields hover near 5%.
American Savings Bank Prices $129M NYSE IPO at $16
American Savings Bank priced its upsized NYSE IPO at $16 per share, raising $128.9M in a rare 100% secondary bank listing under ticker ASBH.
Grab to Buy 60% of Atome for $1.5B in Staged Fintech Deal
Grab agreed to acquire a 60% stake in Atome Financial for $1.49B in cash, accelerating Southeast Asian digital lending expansion with a staged buyout path.
BofA Warns Investment Banking Fees to Drop Over 10% in Q3
Bank of America expects Q3 investment banking fees to drop over 10% as dealmaking cools, CEO Brian Moynihan warned, sending BAC shares down 5%.
Dangote Refinery Opens $1.6B IPO: Africa’s Largest Listing
Dangote Petroleum Refinery opened its historic ₦2.15T ($1.6B) IPO on Sept. 14, 2026, offering 4.1B shares at ₦525 on the NGX to expand refining capacity.
Debt Covenants Explained: Affirmative, Negative, and Cov-Lite
Understand debt covenants: affirmative vs negative rules, financial maintenance tests, debt-to-EBITDA math, and why covenant-lite loans dominate modern credit.
10-Year Treasury Hits 4.98% as $6B Buyback Demand Plunges
The 10-year Treasury yield neared 5% on Sept. 14 as Treasury’s expanded $6B buyback logged a record-low 1.7x cover, rattling debt markets ahead of the Fed.
Private Credit Divide: 12% of Small Loans Face Distress
Houlihan Lokey’s DataBank reveals a divide in private credit: distressed loans jumped to 12% for small borrowers while mega-cap direct lending holds firm.
Secretive Backer Vy Capital Unveils $46B SpaceX Stake
Dubai-based Vy Capital built a $46.4B stake in SpaceX across 271.8M shares, propelling its AUM past $50B alongside Elon Musk. Here is how the bet unfolded.