Rights issues II: Cigarettes and alcohol
Carlsberg and Imperial Tobacco are set to close their acquisition finance rights issues totalling over Eu10bn this week. The subscription period for Carlsberg’s Eu4.09bn capital increase, fully underwritten by BNP Paribas, Danske Markets, Lehman Brothers and Nordea, closed yesterday and the take-up will be announced on Thursday. Meanwhile, the Eu6.13bn capital increase for Imperial Tobacco closes this morning and banks will reveal the take-up level for the deal tomorrow. The rights issue, fully underwritten by Hoare Govett, Morgan Stanley, Citigroup and Lehman Brothers, allows Imperial to repay an equity bridge facility for the acquisition of Altadis. Read EuroWeek on Friday for full coverage of these deals.
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