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Equity

G4S lenders asked to sub as DB, RBS take on £2bn rights issue

Security services group G4S on Monday announced plans to buy Danish firm ISS for an enterprise value of £5.2bn, supporting the transaction with a £2bn rights issue jointly underwritten by its corporate brokers, Deutsche Bank and Royal Bank of Scotland. Fees for the capital raise have been squeezed, said one banker, with the sub-underwriters’ 1.5% representing more than half the headline 2.7% (£54m).

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