Goldman Sachs
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Italian construction giant Salini Impregilo offered to exchange its 3.75% notes, due in 2021, to new non-call life senior notes, maturing in seven years. The €250m deal is set to be completed by Friday this week with initial price thoughts of 3.875% — indicating that Salini may have lost favour among investors and will have to pay extra to extend maturities. -
The European Financial Stability Facility took the spotlight in the euro public sector bond market on Monday with an intraday execution ahead of a busy week. The European Investment Bank, Council of Europe Development Bank, Spain and Cyprus have all announced new deals.
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Unione di Banche Italiane was close to 14 times subscribed for a €400m additional tier one (AT1) in the euro market on Monday, as it capitalised on expectations of scarce supply in the asset class. The debut deal means the bank will become the fourth Italian issuer of AT1 capital.
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Goldman Sachs is forming a Sustainable Solutions Council for its investment banking division, with four members for the Europe, Middle East and Africa region.
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Equity capital markets investors jumped at the chance to buy shares in Nexi, the Italian payments company, as it returned with its first transaction since IPO.
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US private equity group Apollo Global Management has completed the first selldown of stock in Watches of Switzerland, the UK luxury watches retailer, since its flotation on the London Stock Exchange in May last year.
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A week that started with a panic about the potential for conflict between Iran and the US appeared to end with capital market issuance conditions so good as to be marked “10 out of 10”. As the loan market defied Middle East risk, borrowers and bond bankers are gearing up for a week ahead of huge issuance, while equity bankers are ruing missed opportunities. Sam Kerr, Mariam Meskin and Francesca Young report.
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The European Investment Bank and World Bank kept the strong momentum flowing in the euro public sector bond market on Thursday, hitting the sweet spot with 10 and seven year benchmarks, respectively.
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Calisen Group, the KKR-backed manufacturer of smart energy appliances, is preparing to raise £300m via an IPO on the London Stock Exchange, having announced its intention to float on Thursday.
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The State of Israel printed a $3bn dual tranche dollar bond on Thursday from a combined book of $20bn, helping to buoy confidence in the CEEMEA market as US-Iran tensions faded. The bond was Israel’s largest ever deal and its tightest price in terms of spread.
