Strong markets open door for Petroplus offer
Swiss oil refiner Petroplus launched a $425m combined rights issue and convertible bond offer alongside a $400m conventional high yield issue on Wednesday, making use of favourable conditions across capital markets. Speculation was also rife about a Eu1.5bn equity offering for Germany’s HeidelbergCement and a £800m placement of Arcandor’s shares in Thomas Cook. The environment appears ideal with the FTSE 100 coming close to crossing the 5,000 mark and the DJ EuroStoxx 50 closing in on 2,800. Turn to EuroWeek on Friday to see which issuers make moves.
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