Goldman Sachs
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Picard Surgelés, the French frozen food producer and retailer, sold a €770m bond on Wednesday, of which €602m will be used to pay a dividend to shareholders. -
3SBio Inc, a biotech firm based in China, is looking to raise $400m-$500m from an IPO in Hong Kong, in what would be its second outing as a listed concern after delisting from Nasdaq in 2013.
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This week was supposed to be all about IPOs in the European equity capital market, with the pricing of a string of deals, above all the highly successful €4.25bn privatisation of Aena, the Spanish airports operator. But a carnival of block trades on Thursday stole the show, as sellers from British Telecom to Silvio Berlusconi pounced on a rising market, either to lock in recent gains opportunistically or to further strategic business needs. Jon Hay reports.
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Tuesday brought three block trades in Europe’s equity capital market. The European Bank for Reconstruction and Development sold its whole 5.1% stake in PKP Cargo, a Polish rail freight operator, for Z197m (€47m) via Goldman Sachs and Wood & Co.
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Apple may well be the darling of the bond markets but arch rival Microsoft proved that it is still a massive draw when it printed the biggest deal of the year at tighter spreads than its rival.
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Sky Bet, the UK online gambling business, allocated its £340m seven year term loan ‘B’ at around 10am GMT on Monday morning, having further flexed the deal’s terms in favour of investors.
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The latest of several Chinese issuers to tap the European bond market, China State Shipbuilding Corp priced its debut bond in the currency, a €500m three year issue, on Wednesday.
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Shares in Aena, the largest airport operator in the world by transit numbers, shot up 20.6% on Wednesday when they began trading in Madrid, as investors, many of them dissatisfied with their shrunken IPO allocations, scrambled for shares in the aftermarket. The shares climbed another 5% on Thursday morning, before sliding back to close at the same level as Wednesday night.
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Danish telecommunications company TDC has mandated banks for two possible bond deals, one senior and one hybrid, after its acquisition of Norway’s Get last year.
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State Bank of India is expected to hit the market in March for its jumbo Rp150bn ($2.4bn) equity raising, in what would be yet another chunky deal for the country’s ECM market.
