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Equity

Top Equity News

  • BT tantalises market receptive to rights issue, but blocks likely later

    British Telecommunications has declined to confirm press reports that it is planning a £2bn rights issue as part of its financing for the £12.5bn takeover of EE, the UK mobile phone group. However, the market barely flinched at the news, suggesting a deal, if it comes, will not be a challenge.

    • 18 Dec 2014
  • UK to dribble up to £3bn Lloyds stake into market via MS

    The UK government will sell the next chunk of Lloyds Bank shares using an unusual dribble-out trading plan, in which shares will be sold piecemeal in the secondary market, rather than in a large block, as it has done twice before.

    • 18 Dec 2014
  • Hybrids on the way from Repsol, maybe BT

    Repsol will aim to issue hybrid bonds to finance an acquisition announced this week, with British Telecommunications widely expected to do the same to help finance its takeover of Everything Everywhere.

    • 16 Dec 2014
  • Wereldhave closes €550m rights issue to fund growth

    Wereldhave, the Dutch shopping centres and offices group, on Tuesday completed the €550m rights issue it launched on December 1, as it raises money to finance its acquisition of six shopping centres in France.

    • 16 Dec 2014
  • Belgium’s Tessenderlo completes rights offering

    Tessenderlo Chemie, the Belgian chemicals company, has received enough demand from existing and new investors to complete a €174.8m rights issue.

    • 16 Dec 2014
  • RenoNorden raises €102m in Oslo IPO

    RenoNorden, the Norwegian waste collector, floated on Oslo’s stock exchange on Tuesday, as it raised Nkr963m (€102m) in what is set to be one of the last IPOs in Europe this year.

    • 15 Dec 2014
  • Kegoc shares to start trading this week

    State-owned Kazakhstan Electricity Grid Operating Co (Kegoc) expects its shares to start trading on Friday, December 19, as the firm completes its IPO after an initially lukewarm bookbuild.

    • 15 Dec 2014
  • Permira resumes Hugo Boss selldown with €500m ABB

    Permira today resumed its gradual exit from Hugo Boss, as it sold 4.9m shares in the company for a total of €500m, in what could be one of the last large accelerated bookbuilds in Europe this year.

    • 12 Dec 2014
  • Fiat Chrysler $3.5bn mission accomplished despite share plunge

    Fiat Chrysler Automobiles raised $3.46bn on Wednesday, when it priced its $2.5bn mandatory convertible bond and $957m share offering, designed to strengthen its balance sheet and gain a new investor base in the US.

    • 11 Dec 2014
  • GTech cuts bridge while some shareholders exit

    GTech, the Italian gambling equipment maker, has further reduced its bridge facility for the acquisition of US competitor International Game Technology (IGT), to $6bn.

    • 11 Dec 2014
  • Meda has full subscription on €214m rights issue

    Meda, the Swedish pharmaceuticals firm listed in Stockholm, has successfully completed a Skr2.027bn (€214m) rights issue for 10% of its existing share capital. It had a 99.7% take-up rate, with heavy oversubscriptions.

    • 10 Dec 2014
  • Step forward for ELTIFs

    The Council of the European Union has approved regulation for European long term investment funds (ELTIFs) this week. The funds are designed to increase the pool of capital available for long term investment in Europe.

    • 11 Dec 2014
  • Castle Harbour hires Citigroup CB veteran for new fund

    Castle Harbour Securities, a boutique merchant bank and asset manager based in London and Bermuda, has hired Eric Daniel, former head of equity derivatives and convertible bond sales at Citigroup in Paris, to co-manage a new convertible bond fund.

    • 10 Dec 2014
  • Investors seek options protection as energy sell-off continues

    Institutional investors have been picking up protection via options on energy-linked stocks driven by a decline in energy markets. Market participants were seen both selling calls and/or buying puts.

    • 11 Dec 2014
  • ING IM hires Avoca’s convertible bond team

    ING Investment Management has hired Tarek Saber and Jasper van Ingen from Avoca's Convertible Select Global Fund.

    • 09 Dec 2014
  • Fiat sets price guidance on $2.5bn US convert

    Fiat Chrysler Automobiles (FCA) has set the price guidance on the 2016 mandatory convertible bond it is issuing in the US, two days ahead of the deal’s expected completion.

    • 08 Dec 2014
  • PE still active in Scandi ECM, as Apax launches Evry takeover

    Apax Partners this week said it plans to buy Evry, the IT services provider listed in Oslo, while several private equity-owned firms could be heading in the opposite direction in the coming months.

    • 08 Dec 2014

Asia Pacific

  • Hong Kong ends on high note as Wanda closes $3.7bn debut

    Dalian Wanda Commercial Properties pulled off one last hurrah for Hong Kong’s IPO market this week, raising HK$28.8bn ($3.7bn) in the city’s largest listing for more than three years. The property developer, owned by Chinese billionaire Wang Jianlin, priced its shares on December 16 at HK$48.00, near the top end of guidance, despite niggling fears about China’s cooling property sector, writes John Loh.

    • 18 Dec 2014

Opinion

  • Dark year end as risks gather for 2015

    It’s an ugly end to 2014. The last four weeks have turned a good year into a disappointing one for many equity and bond markets.

    • 18 Dec 2014
  • Russia is in pain — but remember Ukraine

    Suddenly, Russia is suffering. In the last few days, with the oil price collapsing and a collapse in the rouble exchange rate, many in the West have started to suggest that it is time to rethink sanctions.

    • 18 Dec 2014

Market news

  • Special Briefing on China market access, Part I: the future of RQFII

    China’s renminbi qualified foreign institutional investors (RQFII) programme and the recently-launched Shanghai-Hong Kong Stock Connect initiative have made some of the biggest contributions so far to tearing down the Great Wall surrounding China’s capital markets, while simultaneously providing a springboard for the broader adoption of China’s currency around the globe.

    • 19 Dec 2014
  • Coalmine canary Jefferies starts coughing

    Jefferies, which reports a month before the major US houses, had a shocking quarter in September, October and November, suggesting dismal numbers in the post for the rest of the industry.

    • 18 Dec 2014

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Dec 2014
1 JPMorgan 342,922.92 1311 8.41%
2 Barclays 300,648.86 1032 7.37%
3 Citi 290,963.57 1128 7.14%
4 Deutsche Bank 287,219.96 1136 7.04%
5 Bank of America Merrill Lynch 282,489.76 1009 6.93%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Dec 2014
1 BNP Paribas 52,003.11 221 7.02%
2 Deutsche Bank 51,241.89 139 6.92%
3 Citi 40,105.19 112 5.41%
4 JPMorgan 36,476.66 84 4.92%
5 Credit Agricole CIB 36,447.56 151 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Dec 2014
1 JPMorgan 26,935.89 136 8.98%
2 Goldman Sachs 26,008.57 92 8.68%
3 UBS 23,085.08 92 7.70%
4 Deutsche Bank 22,844.76 91 7.62%
5 Bank of America Merrill Lynch 21,916.84 81 7.31%