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Italian shipbuilder is expanding capacity on strong defence demand
Deal priced at 1% premium to Monday's close
Booming metal prices could bring more equity deals
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LetterOne, the largest shareholder in troubled Spanish retailer Dia (Distribuidora Internacional de Alimentación), has unveiled a tender for the group’s shares, along with a plan to inject €500m of equity, as an alternative to the existing management plan for the group. The share price bounced on the news, but bondholders need more clarity about LetterOne’s intentions — and about what will happen to the firm’s €1.3bn of trade payables.
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Greencoat UK Wind, the UK infrastructure fund focused on wind farm development, has begun the deal roadshow for its latest £131m capital increase.
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Low & Bonar, the UK maker of fabrics and flooring materials, has announced a £54m placing and open offer to reduce its debt burden in order to satisfy its debt covenants.
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Shares in Norwegian Air Shuttle, the Norwegian budget airline, fell 25% on Tuesday after the company announced an Nkr3bn (€308m) rights offer to avoid breaking its financial covenants following widening losses and an abandoned takeover attempt by IAG.
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Tritax Big Box Reit has returned to the market with a £250m placing and open offer to finance its acquisition of a majority stake in DB Symmetry, the owner of one of the largest strategic land portfolios for development of Big Box warehouse assets in the UK.
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Philippine gaming company PH Resorts Group Holdings has received the go-ahead from the Securities and Exchange Commission to issue Ps18.5bn ($351.92m) of shares in a follow-on offering.