Confusion reigns over league table for Loterias
The banks working on the €7bn IPO of Spanish lottery company Loterias were said to be meeting strong interest from investors for the deal early this week, with even banks away from the six joint global co-ordinators filling up a full schedule of investor meetings. However, in a sign of the pressure that ECM houses are under amid a dearth of fee-paying deals, EuroWeek understands that discussions are still continuing as to how the league table credit will be split up.
While the deal was making early progress, confusion remained as to the titles and subsequent league table credit for the three banks one rung down from the global co-ordinators who are BBVA, Credit Suisse, Goldman Sachs, JP Morgan, Santander and UBS.
Citi, Deutsche Bank and Morgan Stanley
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