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Companies Shelve $25 Billion of Fund-Raising Deals as War Rages

  • Tesla to Mumbai Airport pull funding plans as volatility hits
  • U.S. firms account for almost half of deal cancellations
Updated on

Firms across the globe are ditching fund-raising deals at a quickening pace, as volatility destabilizes credit markets following Russia’s invasion of Ukraine.

Electric car giant Tesla Inc. is the latest big name firm to scrap financing plans, as it postponed a $1 billion offering of bonds backed by leases on its vehicles last week. Almost 80 companies, nearly half from the U.S., have put at least $25 billion of deals on hold since the start of the war nearly a month ago.