Bank of America

OVS, the Italian clothing retailer, has begun investor education for an IPO, which could involve about €350m of new shares being issued, as well as a smaller amount of secondary stock. They could add up to as much as 49% of the stock being listed.

Bond investors are hoping for a flood of US supply in the coming weeks as companies emerge from earnings blackout following a disappointing start to the year.

Indonesia industrials are returning to the dollar bond market, with MAXpower Group and Tower Bersama Infrastructure readying new deals.

Indian companies were out in full force this week to tap the equity capital markets. Leading the way was the Indian government’s long-awaited $3.95bn divestment of its stake in Coal India.

Vakifbank priced the first ever Basel III compliant tier two bond on Monday, a $500m 10 year non-call five. But though bankers estimated that the bond paid around 115bp-116bp over its old style tier two bullet 2022s, they said it was difficult to strip out the cost of the addition of point of non-viability features.

The bookbuild began today for the Spanish government's flotation of 49% of Aena, one of the largest airport operators in the world, in a deal that could top €4bn at the top end of the price range.

Indonesia industrials are returning to the dollar bond market with MAXpower Group and Tower Bersama Infrastructure readying new deals.

Terna, the Italian electricity grid company, sold a €1bn seven year bond last Friday, profiting from strong demand after the announcement of European quantitative easing on Thursday, January 22, to price with a minimal new issue premium.

India’s Aurobindo Pharma has received the go-ahead to raise up to $350m from a qualified institutional placement (QIP) of shares, following an extraordinary general meeting held this week.

The prospect of a new wave of European equity issues has risen with Thursday’s aggressive package of European Central Bank quantitative easing. The announcement triggered a strong rally in eurozone equity indices, supporting the dozen IPOs already launched in Europe this year.

Tele Columbus has priced its IPO in Frankfurt, the first of the year in Europe. The German cable company’s sale has been a success, and was priced at €10 a share, the midpoint of the €8-€12 range, and the top of the revised range.

SIG Combibloc, the Swiss drinks carton maker, has launched the long-awaited €2.265bn loan backing its acquisition by Onex, in the largest European leveraged takeover financing of the year so far.