Europe
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Big day for Italian ECM as Golden Goose attracts long-onlys to IPO and Chinese shareholder off-loads Pirelli stake -
Long-serving public sector funding official moves on after 30 years
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◆ Deal swells from initial size ◆ No premium needed to seal larger print
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◆ Danske saves with three year floater ◆ No NIP needed for Danske’s seven year tranche ◆ DNB’s €1bn print only just covered
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Deal turned out larger than some had expected
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Demand nearly four times the deal size allowed pricing to tighten sharply
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One-for-five issue backed by core shareholders, following successful hybrid
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◆ French issuer picks size over price ◆ ‘Three handle’ important to secure investor interest ◆ Danske readies fixed and floating rate notes
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◆ 12bp move from IPTs ‘remarkable’ ◆ €1bn print lands flat to inside fair value ◆ Iccrea to follow with 10 year OBG
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French defence company has lined up Bpifrance as a cornerstone investor
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Shares trade above issue price on Friday after sale
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An €8bn book for its debut hybrid puts company in strong position ahead of rights issue
