Deutsche Bank
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An optimistic mood is spurring on Europe’s equity capital markets, with a busy quarter expected, particularly for IPOs.
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Deutsche Bank’s head of origination for corporate and financials in CEEMEA has moved to one of the bank’s clients as chief financial officer. -
The European Investment Bank has hit screens to announce its first benchmark of 2018 — a £1bn sterling tap.
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Holders of the rights auctioned in the rump sale after Banca Carige's rights issue have subscribed for only €22.8m of the €167m of shares available to them. The largest shareholder has 12 hours to exercise an option to buy €69.5m of the remainder.
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Dealogic could be one of the last leveraged loan deals to close in 2017. With allocations of its dividend recapitalisation loans due on Friday, the deal is likely to cap what has been an all-time record year of issuance in the European leveraged loan market.
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India’s ReNew Power Ventures has hired three banks to helm its long-expected $700m IPO next year, said sources close to the matter.
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The rump auction following the rights issue of Banca Carige, the Genoese bank, was closed early after two days on Monday, but participants in the deal have to wait till Thursday to find out how many of the buyers will subscribe for the up to €167m of shares.
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Chinese technology company JD.com has doubled its maiden offshore loan to $1bn, thanks to commitments from 18 lenders during primary syndication.
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European banks were outgunned again in corporate finance in 2017 but there is cause for optimism for next year, writes David Rothnie.
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European Central Bank president Mario Draghi struck an upbeat note on the currency bloc’s growth prospects at a press conference following a governing council meeting on Thursday, but analysts still expect borrowers to enjoy supportive conditions for some time yet. The meeting — and the approaching year end — meant euro supply was thin on the ground, but Iceland did take the opportunity to return after several years away.
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Leveraged loan investors are still at the table in a week many expected to be quiet. Double-B rated borrowers like Nomad Foods, the UK frozen food producer, found strong demand after slashing margins and selling add-ons.
