Goldman Sachs
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Multiple FIG bonds hit the primary market for the first time in a month on Monday as European bank stocks continued their rebound to ease the pressure on borrowers. -
The UK Debt Management Office has mandated banks for the sale of a Gilt set for the week beginning February 22.
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Belgian telecommunications company Telenet, which is owned by Liberty Global, has drawn on €1.2bn of loans to fund the €1.325bn acquisition of Belgian mobile operator, BASE.
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Saipem, the Italian oil and gas engineering group, announced late on Thursday evening an 87.8% take-up for its €3.5bn rights issue, leaving the underwriters potentially on the hook for up to €427m. In a concerning sign, the shares were suspended on Friday after falling 11%, though they have recovered to 6% down.
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Chinese pharmaceutical company Hutchison China MediTech (Chi-Med) has picked a quartet of co-managers for a $100m listing on the Nasdaq.
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Sociedade Nacional De Combustíveis De Angola (Sonangol) has completed a lengthy loan syndication for a $1bn five year loan, with Chinese banks taking big tickets, according to a banker on the deal.
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Europe’s high yield bond market suffered a severe disappointment on Thursday evening when LeasePlan Corp, the Dutch car finance bank, was forced to pull a €1.55bn bond. Market participants were hoping the offer would show the market was functioning properly, writes Victor Jimenez.
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Most deals in the European high yield market this year have been smaller than €300m, in stark contrast with how strongly the market opened in 2015 — but this week’s rash of bigger deals has yet to generate much optimism.
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Additional tier one paper rebounded sharply on Wednesday as fears about the risk of coupon deferral subsided and investors— and Goldman Sachs — decided to test the senior market with a short dated issue.
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On Tuesday night the loan market gathered in all its finery to hear the winners of the 13th Syndicated Loan, Leveraged Finance and Private Placement Awards at the Guildhall, in London. The results are below.
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Ascential priced its initial public offering on Tuesday, for a deal size of £279.9m. After a rocky first day on the London Stock Exchange, the information and events business finished the day with its shares trading at the exact level at which they had been priced.
