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Gategroup pulls IPO on valuation pressure, Godewind resizes

The IPO of Gategroup, the Swiss airline catering company, has been cancelled after market conditions led to a 'gap in valuations' between the issuer and buyers.

  • By Sam Kerr
  • 26 Mar 2018

Credit Suisse and UBS were the global coordinators on the transaction and JP Morgan was a bookrunner. Berenberg, ING, Santander and UniCredit were co-lead managers.

The Swiss listing was designed to fund Gategroup’s acquisition of Servair, a Swiss competitor, from Air France-KLM.

It also included a secondary sale ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 66,398.25 210 8.43%
2 JPMorgan 62,989.04 222 8.00%
3 Barclays 53,876.84 175 6.84%
4 Bank of America Merrill Lynch 44,675.83 159 5.67%
5 Deutsche Bank 42,359.23 156 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 6,160.68 5 15.50%
2 Deutsche Bank 3,400.72 4 8.55%
3 Commerzbank Group 2,532.05 5 6.37%
4 Citi 2,513.95 6 6.32%
5 BNP Paribas 1,742.18 7 4.38%

Bookrunners of all EMEA ECM Issuance

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1 UBS 998.25 3 12.68%
2 Citi 693.55 2 8.81%
3 Morgan Stanley 606.80 4 7.71%
4 Bank of America Merrill Lynch 509.34 3 6.47%
5 Jefferies LLC 409.89 4 5.21%