Danske Bank
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Swedish firm AR Packaging and French software firm Cegid both successfully allocated leveraged buyout loan packages this week — with the margins undisturbed by the UK's vote to leave the EU. -
Sandvik, one of the last Nordic borrowers to refinance as the regional holidays kick off, this week signed a Skr9bn-equivalent credit facility with two banks leaving the syndicate.
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Swedish firm AR Packaging this week began marketing €240m of loans to fund its acquisition by CVC Partners from Ahlstrom Capital and Accent Equity.
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Danske Bank has hired a former syndicate official from JP Morgan.
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Bonava, the Swedish housing developer, has obtained a Skr2.7bn ($325m) loan that backs its listing on the Nasdaq Stockholm exchange.
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Dong Energy’s IPO, the biggest in Europe so far this year, achieved a strong result, both in its bookbuild, which raised Dkr17.1bn ($2.6bn), and on its first day of trading on Thursday, when the shares jumped 10%.
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RPC Group, the UK plastic bottle manufacturer, has amended its £770m revolving credit facility agreement to include a £70m facility, which will part fund its acquisition of British Polythene Industries.
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Of the five IPOs due to reach completion this week, Norway’s B2 Holding finished its bookbuild today and Dong Energy has put out final guidance. Van Lanschot has also just revised its guidance. The other two — ASR Nederland and Basic-Fit — have still to refine their original price ranges.
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Dong Energy has narrowed the price range for its IPO, cutting off the bottom end of the range, after a banker on it said: “it’s about as strong an IPO as we’ve seen in a long time”.
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Undeterred by some investor wobbles around appetite for long dated maturity, Irish state electricity company Electricity Supply Board (ESB) came to market on Tuesday with a €500m 15 year bond.
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Dong Energy began the bookbuild for its Copenhagen IPO on Thursday, at a price range of Dkr200 to Dkr255 a share, which would give it a market cap of Dkr83.5bn to Dkr106.5bn ($12.5bn-$16bn).
