Goldman Sachs
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The key to the clean-up and recapitalization of Italy’s Banca Monte dei Paschi di Siena is a €5bn rights issue but even though a strong cast of top tier ECM banks have signed on to run it, the deal still hinges on finding real demand. Aidan Gregory and Owen Sanderson report. -
BayernLB successfully issued a $300m Pfandbrief at a tighter spread than it would have gotten in euros, with a highly oversubscribed book.
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Auto-parts business Adient on Thursday started pricing a $2bn cross-border bond, attracting high demand for a deal that could be the last high yield offering before the European market breaks for the summer.
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Public sector dollar flow picked up on Wednesday after a quiet start to the week, as World Bank brought a four year benchmark and Tunisia sold a bond backed by the US government.
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Postal Savings Bank of China’s mammoth $8bn-$10bn IPO in Hong Kong is a “once in a decade type deal” and investors already appear willing to pay a premium for a slice of the trade, say bankers.
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US coatings manufacturer Axalta priced its $875m dual currency offering on Tuesday as it brought this week’s second cross-border bond, at pre-Brexit pricing levels.
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BayernLB successfully issued a $300m Pfandbrief at a tighter spread than it could have achieved in euros. It follows a privately placed sterling Obbligazioni Bancarie Garantite (OBG) issued by Banca Popolare dell'Emilia Romagna (BPER).
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Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.
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Spain’s Cellnex Telecom, a broadcasting towers business, hit the investment grade and high yield euro markets on Monday, just over six weeks after it roadshowed for the deal.
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Mapletree Commercial Trust raised the roof with its S$1.04bn ($766.01m) overnight block-plus-rights combo this week, in a deal that earned praise from bankers on and away from the transaction. The placement tranche now ranks as the largest by a Singapore real estate investment trust, and could pave the way for more Reit-related fundraisings. John Loh reports.
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Goldman Sachs has appointed new sets of co-heads for both leveraged finance capital markets EMEA and for 'growth markets' capital markets.
