Europe
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Tony Hayward, the former boss of BP, is joining this year’s $117bn Spac IPO market by launching a new blank cheque company on the Amsterdam Stock Exchange that will focus on energy transition. -
GlobalCapital is delighted to announce that the Covered Bond Awards 2021 survey will open for voting from Thursday. Congratulations to all those who made it to the shortlists.
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Two new European Spac IPOs were launched on Wednesday following extensive pre-sounding processes.
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Covered bond primary activity slowed to a trickle in euros on Wednesday as DekaBank issued an oversubscribed sub-benchmark sized five year public sector covered bond amid a pick-up in European Central Bank purchases. At the same time, Muenchener Hyp (MuHyp) tapped the Swiss franc market in the wake of a four part Sfr910m ($992m) deal issued on Tuesday by Swiss Pfandbriefbank.
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Bridgepoint Group, the UK private equity firm, has officially opened books on its London IPO. It has had a strong start, receiving huge demand from investors during the investor education process.
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The IPO of Novem Group, the German car parts supplier, is set to be priced at €16.50 a share, according to sources close to the deal.
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The covered bond and sovereign, supranational and agency sectors were well very well bid on Tuesday despite supply from the European Union and US T-Bill auctions. Even though US inflation is proving to be much higher than expected, dovish comments from the European Central Bank and the expectation of lower supply over the summer kept the mood light in secondary markets.
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The success of Wise’s direct listing can be chalked up as a victory for a UK stock market that has undergone much soul searching about its ability to attract the hot companies of the future.
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The UK impressed onlookers with its sale of the second syndicated conventional Gilt of its 2021/22 financial year on Tuesday.
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Spanish football club Atlético Madrid has signed a €300m US private placement, following its rivals FC Barcelona into the market.
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Commonwealth Bank of Australia’s has increased the size of its covered bond programme after the Reserve Bank of Australia opted to end its Term Funding Facility, suggesting that Australian banks could be on the verge of increasing their public bond market funding.
