BBVA
-
Another day, another €1.5bn of high yield bond offerings was what Tuesday’s deals from Aramark, Anglo American and Arrow meant for a European market awash with double-B rated paper. But too much of a good thing is putting off some traditional high yield buyers. -
Shares in Prosegur Cash, the Spanish cash handling company, closed 3.75% higher in Madrid after it made its stockmarket debut on Friday, having priced its IPO at the top of its revised price range on Thursday.
-
Two more IPOs of significant size were announced this week in Western Europe, and with four weeks to go until the start of the Easter holidays, they are likely to be the last of this IPO season to be launched.
-
Gestamp Automoción, the Spanish car parts maker, has begun investor education for what is likely to be the largest European IPO of the year so far, after its Ebitda grew by 10.6% in 2016.
-
Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.
-
-
US pharma research firm Quintiles IMS Holdings printed on Thursday a new €1.4bn high yield bond, proving that European high yield investors are embracing the train of US issuers printing in euros.
-
Spain rode out another volatile day in eurozone government bonds to finish up with a healthy €5bn of 15 year paper from an order book nearly treble that size.
-
Spain is set to bring its second benchmark of the year after mandating banks on Tuesday, as the country enjoys a spell of stability compared to some of its eurozone peers and a market that appears to be calming after a volatile start to the week.
-
BBVA sold down part of its holdings in China Citic Bank Corp for HK$4.6bn ($587.2m) on Wednesday, taking advantage of an unexpected rally in Chinese banking stocks.
-
Europe’s IPO market — sluggish, so far this year — is beginning to warm up, with the announcement of a smattering of new deals this week.
-
