Italy
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A €17m floating rate issue will be listed on the Third Market of the Vienna Börse to fund the acquisition of Corpo Vigili Giurati, the Italian private security group, by the Berni-Gamberini family. -
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The revival of equity-linked issuance in Europe continued this week with three deals, all of the kind investors are looking for: from smaller companies with higher credit spreads and interesting equity stories.
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Remarkably supportive conditions in the euro market allowed some rare SSA names to pull off strong deals this week, including a debut in the currency and a return from a two year hiatus.
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The IPO market in EMEA has shrugged off the political turmoil that has engulfed the UK since the general election on June 8 resulted in a hung Parliament.
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Cassa Depositi e Prestiti sold its first syndicated bond in over two years on Wednesday, returning to capital markets at a time when Italy’s political future looks the rosiest it has for months.
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All the action in the SSA bond markets switched to euros on Wednesday morning with the US Federal Reserve's imminent decision on interest rates quieting the dollar market.
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A trio of euro borrowers launched trades and a fourth picked banks on Tuesday in a market buoyed by a perceived renewal of European political unity following welcome results in elections in France and Italy at the weekend.
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Nuovo Transporto Viaggiatori ran a four day roadshow for its first bond this week, as the market welcomed a €4bn deal pipeline.
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UniCredit was looking to extend its global reach with a new dollar tier two on Monday, following last week’s ‘big shock’ for the market when all of Banco Popular’s tier two debt was effectively written down.
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Public sector issuers from the eurozone periphery this week drew big books on deals that later tightened in secondary trading, as expectations that Italy could be added to the long list of European elections this year failed to deter investors.
