BNP Paribas
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The IPO of Neinor Iberica, the Spanish property developer owned by Lone Star Funds, is oversubscribed at its fixed price of €16.46 on the first day of its bookbuild. -
First Quantum Minerals raised $2.2bn for refinancing purposes on Thursday, in what was said to be the biggest corporate high yield bond issue from the CEEMEA region ever - though it was the same size as a VimpelCom deal in 2011.
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Shares in Tullow Oil, the UK oil and gas drilling company, fell 16% on Friday morning after it announced plans for a £607m rights issue to strengthen its balance sheet after oil prices have rallied from their slump in 2015.
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SNCF Réseau is set to bring its second green bond after mandating banks for a Reg S euro benchmark deal on Friday.
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The public sector bond market has safely passed a week full of risk events, with each delivering the anticipated result. That makes it likely borrowers will further enjoy what have been stellar conditions in euros, dollars and sterling.
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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.
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Argentina is returning to the Swiss franc bond market after nearly 20 years, roadshowing a benchmark bond next week. Success or failure will indicate whether Swiss investors have forgiven Argentina for burning their fingers last time they met, writes Silas Brown.
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Netherlands-based telecoms firm Altice, one of the European leveraged finance market’s leading issuers, held a lender call at 3pm London time on Thursday for €1.6bn of loan refinancings in euros, and more in dollars.
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BNP Paribas Fortis issued Belgium’s first covered bond of the year on Thursday, taking advantage of the strong market conditions that followed Dutch elections to price a €500m seven year with a tiny new issue concession.
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Cerba has increased its buyout term loan to €794m after dropping a planned bond. It is the second successive large cap buyout this year in which that has happened.
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Poland was quick to grab on to the relief rally that followed Wednesday's US Federal Reserve meeting, jumping into the market with a long 10 year and a tap of its existing €1.5bn 2036s on Thursday morning.
