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TAO Alpha helps bring Bitcoin acquisition convertibles to European market
Autodoc postpones IPO, cites “geopolitical situation”
Second sizeable French ECM deal this week after Ayvens block
Innoscripta listing a rare miss in hot market
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The deal the equity-linked bond market has been awaiting for months has arrived this evening. Bayer, the German life sciences group, has launched a €4bn mandatorily convertible issue as the first part of its $19bn equity financing for its takeover of Monsanto. -
Groupe SEB, the French maker of household appliances, issued its first convertible bond on Tuesday, raising €150m at a negative yield, as part of the financing for an acquisition.
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Steve Lam, a Hong Kong-based director in Citi’s capital markets origination team, has left, according to sources close to the matter.
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Metals producer Hindalco Industries, a unit of Indian conglomerate Aditya Birla Group, is planning to raise Rp50bn ($738.0m) in fresh funds, according to a stock exchange filing.
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Sirius Minerals completed an $855m equity financing on Wednesday, for the first stage of its plan to build a fertiliser mine in a National Park in North Yorkshire. Priced on Thursday morning, the $400m convertible bond — too risky for many conventional investors — is already trading in the money.
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Hydropower firm China Yangtze Power Co debuted in the equity-linked bond market this week, raising $521.9m with a dual currency exchangeable bond — a product rarely seen in Asia. The liquid nature of the underlying stock and the credit quality of the issuer helped reel in demand, writes Jonathan Breen.
