Gas Natural and Snam Rete Gas in Eu7bn rights issues

March 11, 2009 12:00 am

Cash calls from the natural gas sector are set to hit equity markets with deals from Spain’s Gas Natural and Italy’s Snam Rete Gas. The two companies are aiming to raise Eu3.5bn each and have strong support from their investors. Mediobanca will underwrite the remainder of the risk for Snam Rete, while a syndicate made up of seven joint bookrunners is mandated on Gas Natural. Can the market absorb the constant flow of rights issues? Read EuroWeek on Friday.

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