Deutsche Bank
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The heap of failed IPOs in Europe this year is mounting, with another two deals cancelled this week, almost at the last minute before completion, write Olivier Holmey and Rashmi Kumar. -
The dollar market will still be the place to go for SSAs next week as the euro market comes to terms with a rampant repricing, but not every deal in the market this week fared spectacularly well.
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The 3M Co, the US maker of adhesives and a wide range of manufactured goods, highlighted a renewed bid at the long end for euro corporate paper this week, drawing a three times oversubscription for the 15 year component of a triple tranche trade.
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Delachaux, the CVC-owned French railway track maker, closed books on its €690m loan repricing this Monday, with a second cut in the deal’s margin.
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Würth, the German maker of screws and fastenings, opened the week’s corporate bond issuance in Europe with Monday’s sole corporate deal, drawing a solid order book at a skinny new issue premium.
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Flint Group, the Luxembourg headquartered UK provider of products and supplies for the printing and packaging industries, is seeking a price cut on a €1.5bn equivalent loan.
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L-Bank mandated banks on Thursday for its inaugural Kauri bond, while Export Development Canada opened a tap of a 2019 Kangaroo.
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Indonesia’s tumbling equity market has claimed its first victim in Solusi Tunas Pratama (STP), which was forced to drop its Rph3.91tr ($302.24m) share sale despite attracting decent interest from investors.
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The 3M Co continued this year's strong run of US corporate bond issues in euros on Wednesday, using three tranches to raise its largest ever deal in the currency.
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Flint Group, the Luxembourg-headquartered UK provider of products and supplies for the printing and packaging industries, is seeking a price cut on a €1.5bn-equivalent loan.
