Fresh from the oven: Telepizza serves up €550m IPO
Telepizza, the Spanish pizza delivery group partly owned by Permira and KKR, closed its €550m IPO bookbuild today and is set to price it at €7.75 a share, a third of the way up the original range. It...
View ArticleABB makes punchy return with NIP in deeply negative territory
Rare issuer ABB returned to the European corporate bond market with panache on Monday, as it issued a benchmark seven year transaction, its first in four years, achieving a negative new issue premium.
View ArticleLehto Group closes Helsinki IPO early after heavy demand
Lehto Group, the Finnish modular construction company, has closed its IPO early after the deal was many times oversubscribed.
View ArticleCLO investors question rally in spreads
Spreads in the US CLO market have tightened in recent weeks, but players in the space are questioning the strength of the rally given that fundamentals have yet to see widespread improvement.
View ArticleCredit Suisse funds resi solar warehouse facility
Credit Suisse has emerged as the supplier of a roughly $60 million warehouse facility for SunPower in preparation for the company's inaugural asset-backed securitization of a portfolio of residential...
View ArticleFantasia reopens high yield dim sum for Chinese issuers
Fantasia Holdings Group launched a three year dim sum this morning in a deal that reopens the high yield offshore RMB bond market for Chinese issuers for the first time since August.
View ArticleSTS vote set for November
The European Parliament’s Committee on Economic and Monetary Affairs (ECON) is set to vote on the “simple, transparent, and standardised” (STS) securitization proposals in November, the European...
View ArticleSaudi post-oil plan won't be easy
Saudi Arabia on Monday announced its plans to diversify away from oil production through a plan it called "Vision 2030". But the oil rich nation won't find it easy to execute in the plan, particularly...
View ArticleEnagás keeps 12 year in bloom
Enagás, the Spanish gas transmission and network manager, tapped the European corporate bond market’s taste for 12 year risk on Tuesday with a €750m transaction that was over four times oversubscribed.
View ArticleEquity block trades market ain’t broken — don’t try to fix it
The block trade market is an exciting, risky part of the equity business. Banks can slip up — but that shows how hard they are competing for deals. If, as it seems, block trades work well for issuers...
View ArticleECB boosts global appeal of covered bonds
Vakifbank’s debt euro Turkish covered bond is good for investors, good for emerging markets borrowers and good for the global economy. But the deal would probably never of happened without the...
View ArticleRBS names new head of leveraged finance
Royal Bank of Scotland has appointed a new head of leveraged finance from within the bank.
View ArticleAfrican Loans: You’ve got a (new) friend in me
China's growing presence in Africa is nothing new. But Asian banks are finally coming to the continent's loan market with big tickets and this is not the time for other lenders to sit on their hands.
View ArticleCredit Suisse pulls off fizzy £1bn SABMiller trade for Kulczyk
Just two working days after Numis’s dashing block trade in Saga stock, Credit Suisse brought another sparky, sole-managed deal to the market on Monday night, with a £1bn sale of SABMiller shares for...
View ArticleOC failure highlights growing collateral concerns in CLOs
The failure of a 2014 CLO to pass its overcollateralisation (OC) test last week has put the spotlight back on underlying credit quality in US CLOs, even as the market retraces much of the widening in...
View ArticleSeverstal brings Russians back to CB market with $200m deal
Severstal, the steelmaker, reopened the Russian convertible bond market today, with what bankers on the deal said was the first issue since 2013. The $200m deal enabled the steel company to gain cheap...
View ArticleCiti promotes Gupte to helm Asean, Singapore businesses
Citi has named Amol Gupte as its country officer for Singapore and head of Asean, succeeding Michael Zink who will be retiring.
View ArticleFunding scorecard: European supranationals and agencies
Read on to discover the funding progress of European supranationals and agencies in 2016 so far.
View ArticleFnac gets advanced loan of €75m for Darty shares
French retailer Fnac has agreed a short term loan agreement to finance its acquisition of Darty shares, made during its bidding war with South African retailer Steinhoff.
View ArticleSantander's first quarter results beat expectations
Banco Santander posted a €1.6bn profit for January to March, above market expectations but 5% down from 2015’s first quarter, which the bank blamed on local currencies’ depreciation against the euro.
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