Bank of America
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More than $1.5bn worth of block trades completed within the space of three days this week showed that the summer break in European equity capital markets is well and truly over. The deals included two big Swedish sell-downs by EQT worth more than $500m, and a Sfr539m sale of Straumann Group shares.
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Malaysian sovereign wealth fund Khazanah Nasional threw open Asia’s equity-linked market this week, issuing a $398.8m exchangeable sukuk to much fanfare. The deal has revived Khazanah’s presence in the market and comes two years after it struggled to pull off a similar transaction. Jonathan Breen reports. -
Postal Savings Bank of China met with the sponsors of its upcoming $8bn Hong Kong IPO in Beijing on Thursday as the issuer approaches hitting the market, according to a source involved in the transaction.
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Apax Partners and Guardian Media Group have raised £200m by selling down 20% of Ascential, the British information and events company, via an accelerated bookbuild launched on Wednesday evening.
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The European Financial Stability Facility has sent out a request for proposals for a bond issue next week, as Finland highlighted how much demand issuers can muster in the euro market — even at yields well below 0%.
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Banks are signing documents for the $4bn of acquisition loans for South African-based Steinhoff on Wednesday. The deal has gone “better than expected,” according to one lead banker.
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Finland is bringing a seven year euro benchmark that is almost certain to be priced with a negative yield — but that should do little to quell demand, said bankers on and off the deal.
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Municipality Finance will sell its debut green bond in dollars, rather than in euros as it previously intended, in order to secure cheaper funding.
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China’s Yestar International Holdings Company and South Korea’s Nonghyup Bank have kicked off investor meetings for their respective bond offerings.
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Postal Savings Bank of China is set to kick off investor education for its $8bn IPO after the Hong Kong Stock Exchange approved its plan on Thursday.
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Melrose, the UK industrial buyouts specialist, completed its jumbo rights issue on Wednesday, raising £1.6bn to partly finance its reverse takeover of Nortek, a US air conditioning systems manufacturer.
