Goldman Sachs
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Atotech, a UK speciality chemicals technology company, has followed up its IPO last month with a $1.84bn-equivalent loan refinancing, with some of the money earmarked for acquisitions. -
A HK$5.5bn ($708m)-equivalent loan to partly refinance debt taken for investment manager Permira’s leveraged buyout of Tricor Holdings is now open to existing lenders in syndication.
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Repsol, the Spanish oil company, brought a junk rated hybrid capital bond on Monday, but orders fell away towards the end of the execution process as debt bankers say investors are becoming more price sensitive.
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The FIG market enjoyed its busiest week of the year so far but not all trades are working as investors shun tightly priced deals, particularly those at the long end.
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Europe’s high grade corporate bond market had a more relaxed pace on Thursday, though two issuers brought seven year green bonds: Italian railway company Ferrovie dello Stato and Neste, the unrated Finnish oil refiner which is transitioning to produce biofuels.
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National Grid, the UK utility, is planning a loan-funded £7.8bn acquisition of the UK’s largest electricity distribution business from US firm PPL Corp. The deal could see £2.7bn of the utility’s assets sold to PPL.
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Embracer Group, the Swedish video games developer, has placed Skr7.6bn ($900m) of new shares with investors to finance its ongoing growth.
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The Hong Kong Stock Exchange has had a stellar week, hosting two secondary listings worth about $6bn in total in quick succession. The latest out of the gate is Chinese video sharing and gaming platform Bilibili, which kicked off a potential $3bn float within hours of internet giant Baidu wrapping up its multi-billion-dollar deal. Jonathan Breen reports.
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The sterling corporate bond market had three visitors on Wednesday, making it the busiest day this year, and raised a combined £1.565bn, an unusually large amount for corporate sterling issuance.
