Banks

Shares in Serco, the UK outsourcing company, rose more than 8% on Thursday morning after the company announced a £130m growth capital raise to finance the takeover of Alion’s naval design and systems engineering business, a leading supplier of services to the US armed forces.

Triton International, a global shipping container firm based in Bermuda, has amended and extended a $1.25bn revolving credit facility, cutting its debt cost in the process.

Germany’s Salzgitter has closed a €350m-equivalent dollar and euro Schuldschein, with the steel products and tube maker blowing past its initial €200m launch amount.

Standard Bank printed a $400m 10 year non-call five tier two bond on Wednesday from a book of more than $2bn in a deal that even rival syndicate bankers called a roaring success.

Barclays plans to follow Crédit Agricole and Handelsbanken into the Kangaroo bond market. The UK lender mandated leads for a deal on Wednesday after the other two banks brought deals on Tuesday.

Novolipetsk Steel (NLMK) placed a $500m seven year bond on Wednesday inside its own curve and at its tightest ever spread to the Russian sovereign, according to a lead manager on the deal.

Biopharmaceuticals company Mabpharm launched bookbuilding for its up to HK$1.53bn ($195m) flotation, while Hansoh Pharmaceutical Group set pre-marketing in motion for its Hong Kong listing.

Mulsanne Group Holding broke new ground this week by pricing its IPO below the initial marketed range, debuting a mechanism introduced to the Hong Kong stock market just last year. The move could become more common in the city if US-China trade tensions continue to ramp up market volatility, according to equity capital markets bankers. Jonathan Breen reports.

Ivory Coast will finalise a seven year loan imminently, according to bankers. The deal reflects healthy appetite for sovereign borrowing in the region.

The head of sovereign, supranational and agency (SSA) debt capital markets at NatWest Markets will move to the bank’s Paris office over the summer as part of preparations for the UK’s withdrawal from the European Union, GlobalCapital understands.

The Trade and Development Bank of Mongolia (TDBM) postponed its proposed dollar bond on Thursday, after opening the order book for the three year notes on Tuesday.

BNP Paribas has appointed Bruno Villard as head of M&A for Europe, the Middle East and Africa.