Jefferies LLC

Indian pharmaceutical firm Laurus Labs is planning to go public this year with a Rp10bn ($149.0m) IPO, according to sources familiar with the deal.

India’s Aditya Birla Nuvo is planning to merge with Grasim Industries and in the process spin off its financial services business, according to a statement from their parent Aditya Birla Group.

One of the longest running and most painful sagas in global leveraged finance came to an end this week when high yield investors on Wednesday accepted Veritas Technologies’ €600m-equivalent secured seven year non-call three senior bond eight months after it was first launched. Victor Jimenez reports.

Veritas Technologies on Tuesday began marketing a €580m-equivalent secured bond, the last leg of the debt package that supports its acquisition by private equity firm Carlyle — and that investors rejected in November 2015.

Czech software security firm Avast had commitments due on its $1.6bn equivalent six year term loan package, following a notable price tightening, on Tuesday, yet market participants remain sceptical about the broader tech sector's trajectory in European levfin.

Gamenet, the Italian gambling machine operator,opened a roadshow on Monday for €200m of high yield notes — the third high yield issue from an Italian borrower since the UK referendum on June 23.

CVC Capital Partners has proved a source of comfort for leveraged finance investors this year, supporting issuance with numerous buyouts. Czech security software firm Avast is the latest to turn to the market in marketing $1.6bn of loans.

Jefferies has hired a new managing director for its EM trading team.

UK packaging firm Linpac is expected to launch €175m of loans in the coming weeks, a deal it has been marketing since May. The deal could be the first for a UK borrower since the country voted to leave the European Union in a referendum last Friday.

Jefferies believes the industry stands at another inflection point, as it exploits woes at rivals and continues to snap up bulge bracket exiles, writes David Rothnie.

Cobham, the UK aerospace and marine technology company, has successfully completed its £500m rights issue, which ended with a £22m rump placement this morning.

The wave of rights issues and capital raisings in the market this summer is so far going smoothly, with good news this week for Banco Popular Español, as its shares and rights perked up in trading.