Three European high-yield deals are widely expected to start roadshowing this week or next and should be priced before Christmas, along with VNU World Directories (BW, 11/15) which conducted an investor roadshow last week in London.
British waste management company Waste Recycling, Luxembourg-based provider of contract logistics solutions Thiel Logistics and German scaffolding technologies specialist PERI are all about to hit the road with deals in the €200-250 million range, according to market participants. "If you still want to get a deal done this year, you've got to get it into the market right now--which means this week," said a London-based sell-sider.
Deutsche Bank is underwriting all three transactions and is joined by Barclays Capital and Merrill Lynch on Waste Recycling, Morgan Stanley on Thiel, and Goldman Sachs on PERI. Credit Suisse First Boston, J.P. Morgan and Goldman Sachs are leads on the €545 million VNU deal, with Bank of America as co-lead. Bankers at the mandated firms declined comment.
