Deutsche Bank
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Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn. -
Instone Real Estate Group, the German housebuilder, plans to go public on the Frankfurt Stock Exchange in February, having filed an intention to float document on Monday.
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The German private nursing care group Alloheim Senioren-Residenzen is out with a new leveraged loan offering to fund its buyout by Nordic Capital. This loan is among the first deals to be lined up to close in February, as hopes build of a surge of merger and acquisition driven borrowing.
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Polyus Gold, Russia’s largest gold producer, priced a $250m convertible bond on Friday, just a day after issuing a separate mandate for a new Eurobond.
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Investors showed their faith in Tata Steel on Thursday, pouring money into the Indian issuer’s dual-tranche transaction, shrugging off the weak structure and aggressive pricing.
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Geely Automobile Holdings opted for price over size with its new bond, landing aggressively at the middle of the final guidance range. The tactic meant the private company funded at or even inside the levels of some similarly or higher rated state-owned enterprises (SOE).
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Hong Kong-listed Sinopec Oilfield Service Corp has hired CICC, Citic CLSA Securities, Deutsche Bank and Guotai Junan to help raise up to HK$6.3bn ($805.7m) in new equity.
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Financial institutions have been making the most of extremely supportive conditions in global credit markets in 2018, with four banks printing bail-inable senior deals at very tight levels in euros this week.
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Wall Street’s biggest banks hit the dollar bond market with multi-billion offerings after reporting fourth quarter earnings this week, and supply-starved investors piled into the new deals.
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Leveraged loans have dominated leveraged buyout financing in recent months, but high yield bonds could be poised for a comeback, say European investors. Crown Holdings, the US can maker, added to early signs of optimism with its new €1.5bn cross-border bond offering this week, writes Victor Jimenez.
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Deutsche Bank placed $2.15bn of new non-preferred senior notes with US investors on Wednesday, as Europe’s largest banks continued to bombard the market with multiple deals at the beginning of 2018.
