Goldman Sachs
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A rare Egyptian accelerated bookbuild was abandoned on Thursday, after the trade in shares of EFG-Hermes, the Egyptian brokerage and asset manager, failed to find demand at a price the bank’s board was willing to sell at.
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Mid-market sterling cov-lite seems to have made it over the line this week, with Sky Bet set to close books on Friday, Northgate having been allocated and Advanced Computer Solutions preplacing the sterling tranche of its acquisition facility. -
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OVS, the Italian clothing retailer, has begun investor education for an IPO, which could involve about €350m of new shares being issued, as well as a smaller amount of secondary stock. They could add up to as much as 49% of the stock being listed.
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OVS, the Italian clothing retailer, has begun investor education for an IPO, which could involve about €350m of new shares being issued, as well as a smaller amount of secondary stock. They could add up to as much as 49% of the stock being listed.
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Instituto de Crédito Oficial (Ico) has scored a hat trick with the first ever socially themed bond from a Spanish public sector borrower — printing the largest ever deal in the format, squeezing its spread over Spain to single figures, and welcoming new investors. That could encourage other issuers to add the social format to their funding mix, said bankers — although there were more reasons for Ico’s success than just altruistic investors, including the European Central Bank’s new quantitative easing programme.
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UK online gambling business Sky Bet has widened the margin on its £340m leveraged loan by 25bp as the deal nears its deadline for commitments.
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Advanced Computer Solutions, the UK software and IT services provider, has widened pricing on the dollar tranches of its £498.5m acquisition loan, in response to weak market conditions in the US.
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Sino-Ocean Land Holdings has finally ended the drought of Chinese property bonds with a dual tranche five and 12 year offering on January 28. But despite the success of the deal, bankers are sceptical that a wave of developers will follow in its steps.
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Indonesia industrials are returning to the dollar bond market, with MAXpower Group and Tower Bersama Infrastructure readying new deals.
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Indian companies were out in full force this week to tap the equity capital markets. Leading the way was the Indian government’s long-awaited $3.95bn divestment of its stake in Coal India.
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Elis, the French workwear laundry company owned by Eurazeo, on Wednesday launched its initial public offering in Paris, as it hopes to raise €750m to reduce its debt levels.
