ECM faces black and white future: Brexit pain or Remain joy
Equity capital markets bankers can feel satisfied that good planning led to an orderly and successful completion for half a dozen IPOs at the beginning of June, before fears of a possible Brexit really...
View ArticleBanco Popular rights all placed, but little hope for Veneto IPO
The €2.5bn rights issue of Banco Popular Español has been oversubscribed, the bank will announce on Friday, after it won solid support from core shareholders.
View ArticleLatin bond plans on pause as uncertainty hits
The UK’s possible exit from the European Union is not the only factor to blame for two Latin American borrowers deciding to wait to issue bonds this week, said bankers covering the region.
View ArticleArgentina resurgence timed to perfection
Argentine province Salta paused bond plans this week because of Brexit uncertainty. Don’t expect it to wait long though: overall, global market pain is Argentina’s gain.
View ArticleChina-MSCI stalemate: who’ll blink first?
Much of the debate around MSCI’s decision to not add A-shares has focused on China’s need to reduce its capital controls. But with Beijing unlikely to let go of its reins anytime soon and MSCI strident...
View ArticleTroubled Zhongrong pays up for dollar return
Zhongrong International Trust managed to raise $500m this week by compensating investors for its weak fundamentals with a juicy premium over its outstanding bond. But what also helped the deal was a...
View ArticleRare private equity CFO hits market
Investors have a rare investment proposition on their hands with Singapore sovereign investment arm Temasek Holdings launching its $1.1bn Astrea III securitization on Friday, a transaction backed with...
View ArticleNMDC $550m mandate delayed on fee clash
Banks bidding for a spot on the Indian government’s Rp36.9bn ($549.1m) sell down in NMDC have been told to match the Rp1 fee proposed by Citi or risk losing out, according to sources.
View ArticleSecondary pricing update: featuring FMS-W's $1.5bn five year
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
View ArticleFunding scorecard: Nordic agencies
This week's scorecard looks at the progress of Nordic agencies through their 2016 funding programmes.
View ArticleCobham completes rights issue with tiny rump sale
Cobham, the UK aerospace and marine technology company, has successfully completed its £500m rights issue, which ended with a £22m rump placement this morning.
View ArticleVeneto Banca heads for arms of Atlante, Banco Popolare doing well
The €1bn IPO and highly dilutive capital increase of Veneto Banca is thought likely by bankers involved to be bought in its entirety by Fondo Atlante, as happened to the similar €1.5bn deal for Banca...
View ArticleFortum cleanly renews $1.75bn revolving credit line
Fortum, the Finnish renewable energy firm, has signed a €1.75bn five year multi-currency revolving credit facility to refinance the deal it signed in July 2011.
View ArticleInvestors fall for Amor buyout loan
The €145m of loan facilities to support the purchase of German jewellery maker Amor from 3i by Gilde Buy Out Partners enjoyed a good reception, in line with latest deals in the market.
View ArticlePolitical risk no obstacle to SSAs selling EM currencies
Undeterred by political risks, investors are moving back into emerging market currencies in an effort to combat the wafer thin or, in some cases, negative yields in core markets. Lewis McLellan reports.
View ArticleFunding Circle’s supra tie-up takes £100m step forward
Funding Circle has agreed a £100m deal with the European Investment Bank, where the supranational will buy small business loans originated through the platform. This follows KfW’s £50m investment in...
View ArticleSSAs buoyant as polls hint UK will stay in EU
Optimism is growing among SSA bankers that next week could be a return to business as usual, as sterling and riskier assets surged amid signs that the UK will vote on Thursday to remain part of the...
View ArticleA deal! Christian Dior sniffs out bond in pre-referendum market
Christian Dior nipped ahead of the UK’s referendum on its European Union membership to issue a €350m bond on Monday, and found highly supportive market conditions.
View ArticleEnav begins IPO amid pre-referendum quiet, Avio mandates
Enav, the Italian air traffic control system company, has begun its privatisation IPO today, with the publication of research. Meanwhile, plans are taking shape for the IPO of Avio, the Italian space...
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