Goldman Sachs
-
Innogy, RWE’s renewables, retail and grids business, had a bumpy first day of trading in Frankfurt on Friday after it completed its IPO which valued the business at €19.2bn. It is the largest flotation in Europe since Glencore in 2011. -
Necta & Wittenborg Global Vending, the Italo-German vending machine maker, kicked off October for the euro high yield market, which printed €16bn of deals during the previous month.
-
It was all going so well for Italy. Its entry to the 50 year bond club on Tuesday pulled in a monstrous €18.5bn of orders. But almost immediately the bond became tradeable, the market frothed with talk of the European Central Bank tapering QE, sending Eurozone periphery bonds into a tailspin to remind everyone just how much markets are in the grip of central bank policy. Lewis McLellan reports.
-
-
Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.
-
French glass packaging maker Verallia on Wednesday began testing investors’ thirst for risk with a €500m pay-if-you-can (PIYC) bond, the first of its kind issued since October 2015.
-
Chinese data firm GDS Holdings has begun pre-marketing its $300m US listing with bookbuilding expected in the next two weeks. Logistics company ZTO Express has also chosen to float in the US.
-
The IPO of Innogy, RWE’s renewables, retail and grids business, is set to be priced in the top quarter of its initial range and is covered at the maximum deal size.
-
After a day of caution on Wednesday, when some issuers held back from the primary market after spates of volatility last week, unrated Air France-KLM timed its €400m deal right, showing that investors will still play for yield in higher risk names.
-
Old loyalties and simmering disputes are dictating the winners and losers in the race for top billing in Italian FIG, writes David Rothnie.
-
The European Investment Bank hit the screens twice on Wednesday, printing long dated euros and tapping a sterling line.
-
Italian electricity transmission operator Terna hit the European investment grade corporate bond market on Wednesday, shrugging off investor concerns about European Central Bank tapering of its asset purchases.
