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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Holdings down 16.4% from almost a quarter after institutional bookbuild and off-market buyback deal
Deal multiple times oversubscribed as investors buy into electrification and AI story
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(updated with more detailed analysis 2.20pm) Vodafone is today issuing an unprecedented £2.88bn mandatory convertible bond, with many innovative features, that combines aspects of two recent trends in the market: the equity-neutral CB and the subordinated, equity-accounted deal.
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Bankia will repay retail investors the €1.85bn they invested in the Spanish bank’s ill-fated initial public offering, to compensate them for losses incurred.
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Groupe Bruxelles Lambert, the Belgian investment holding company, took advantage of Total’s strong market performance on three consecutive days to sell €651m of stock in the French oil and gas company on Tuesday night.
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The long wait for a European block trade ended on Tuesday night, as a shareholder in Total sold €651m-worth of stock in the French oil and gas business, sparking hopes of further ECM deals in coming days.
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Chinese aluminium manufacturer China Hongqiao Group has wrapped up its HK$3.8bn ($487.8m) rights issue, with shareholders signing up for roughly 80% of the offering.
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Hong Kong property developer Lai Sun Development has closed a HK$924.3m ($119m) one-for-two rights offering that was just short of 70% subscribed.
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