JP Morgan
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Constantia Flexibles, the Austrian food packaging company, reached its deadline for commitments today on a €1.2bn leveraged loan. With scant deals in the market, investors look set to seize the bait. -
Wizz Air, the Hungarian budget airline, has received enough interest from investors to complete its €300m London listing, and will close the bookbuild a few hours early, at 10pm on Monday night instead of noon on Tuesday.
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Moody’s is preparing to issue its first bond in euros, and has picked JP Morgan to arrange the roadshow.
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Picard Surgelés, the French frozen food producer and retailer, sold a €770m bond on Wednesday, of which €602m will be used to pay a dividend to shareholders.
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Italian electricity company Enel refinanced a €9.4bn credit facility on Thursday and reduced the margin on the loan from 190bp to 80bp over Euribor.
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Telecommunication tower provider Solusi Tunas Pratama (STP) raised $300m from a five year non-call three bond on February 12, in what was the second international bond from the sector in less than 10 days.
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Tuesday brought three block trades in Europe’s equity capital market. The European Bank for Reconstruction and Development sold its whole 5.1% stake in PKP Cargo, a Polish rail freight operator, for Z197m (€47m) via Goldman Sachs and Wood & Co.
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With up to $50bn of additional tier one deals expected to hit the bond markets this year, bank funding teams are praying that this evolving but crucial asset class can settle down and help them meet their capital needs.
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Constantia Flexibles, the Austrian food packaging company, marketed a €1.3bn loan to lenders at a London bank meeting on Monday.
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Apple may well be the darling of the bond markets but arch rival Microsoft proved that it is still a massive draw when it printed the biggest deal of the year at tighter spreads than its rival.
