Ireland
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Post-trade infrastructure company Depository Trust and Clearing Corporation (DTCC) on Wednesday announced that it would open a new office in Dublin in an effort to sidestep uncertainties stemming from Brexit. -
Greencoat Renewables, the Irish wind farms fund managed by Greencoat Capital, has kicked off its first follow-on offering since its €270m flotation on the London Stock Exchange almost a year ago.
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Tuesday’s senior issue from AIB Group struggled to get over the line, and sent a message to the market about waning investor demand for all but the safest bonds.
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Allied Irish Banks was unable to bring in pricing from initial price thoughts on Tuesday. SpareBank 1 SMN appeared to be finding more success with its senior preferred offering.
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Shipping company Irish Continental Group has signed an €80m financing facility with the European Investment Bank, with the financing coming soon after the company announced a spate of committed and uncommitted loans totaling €608m-equivalent. The ship it finances will be the largest cruise ferry in the world.
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As independent advisers take centre stage on the biggest deals, they will attract greater scrutiny, and their big selling point — freedom from conflicts — could be diminished, writes David Rothnie.
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A pair of sovereigns entered the euro market this week, both returning to the long end of the curve for the first time in three years and drawing large books.
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Californian private equity firm Bertram Capital is combining its European portfolio company Anord Control Systems with UK firm Mardix. The move was funded in the direct lending market with a participation from arranger Barings.
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A trio of euro borrowers picked up a combined €8.5bn on Tuesday, seemingly without testing the limits of demand in the market.
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The euro market is back in gear after a few weeks of slow issuance. Three borrowers have mandated deals for Tuesday’s session but one opted for a one day execution, coming on Monday to get ahead of the rush.
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Core Industrial Reit, the Irish real estate investment trust backed by US hedge fund York Capital, has called off its €225m plus IPO in London and Ireland, blaming rough markets.
