Goldman Sachs
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Enerjisa, the Turkish utilities company owned by E.On and Sabanci, has attracted sizeable interest for its IPO, which was covered 4.8 times and priced at the bottom of the range. -
The big fall in the share price of UK outsourcer Capita on Wednesday led to fears of another large corporate collapse in the sector following Carillion's demise last month. But market sources saw the rights issue and turnaround plans, which caused the dip, as a way to avoid disaster as peer Serco once did with similar tactics.
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The investment grade corporate bond market has started February with intent, with Thursday registering as the second busiest day of 2018 so far.
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Capita, the UK outsourcing services firm which runs London's congestion charge system, has laid out an ambitious turnaround plan including a £700m rights issue, but the stock plummeted as its profits projections fell short of expectations.
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Luxury goods group Compagnie Financière Richemont has entered into a backstop loan agreement as part of its all-cash bid for the rest of internet retailer Yoox Net-A-Porter (YNAP) that it does not already own.
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US lottery and gaming group Scientific Games International sold its first euro bonds this week, in a European high yield market that bankers and investors described as ready and steady for opposite reasons.
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A trio of Europe’s less frequent public sector borrowers are set to hit screens for euro transactions on Tuesday, following a long end benchmark from a French agency on January 26.
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When talking to syndicate managers or investors about the first month of 2018, you may think that supply volumes in the euro investment grade corporate bond market have been unusually low. However, a comparison of previous January issuance levels suggests it has been a much more normal start to the year.
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Martin Weber, a Goldman Sachs managing director, is moving to Dubai to run the bank’s MENA financing group, with more hires planned to follow in the region.
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While European Central Bank president Mario Draghi kept firmly to his course of accommodative monetary policy at Thursday’s press conference, the euro strengthened further against the dollar, dragging Bund yields up with it. Lewis McLellan reports.
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Corporate bond investors were offered 10 year and 11.5 year new issues on Wednesday and combined order books of over €4.4bn showed there is significant demand for longer tenors in this market.
