Deutsche startles markets with bold Invensys funding
After weeks of denying it was about to execute a capital increase, Invensys, the UK production technology group, this week launched a £2.7bn recapitalisation package designed to solve its liquidity problems and save it from forced asset sales.
The equity part of the transaction was successfully completed on Wednesday, when Deutsche Bank and Morgan Stanley placed £470m of new shares at 21.5p, a 9.5% discount to the day's close.
In the loan market, Deutsche drew gasps of admiration by underwriting the £1.6bn loan
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