JP Morgan
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Some 27m ordinary shares in German property firm Deutsche Annington were sold in an overnight block trade on Tuesday evening, as the company issued new shares alongside a stock sale by the firm’s largest shareholder.
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Private equity firm TA Associates has exited its holding of Jupiter Fund Management after the sale of its 10.6% stake in an accelerated book build on Tuesday evening.
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Five potential buyers are looking at Diana Ingredients, the French natural ingredients maker, as Ardian aims to sell it in a transaction that could be backed by an €800m loan package.
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Investors have put in nearly €45bn of orders across three new additional tier one deals, in a week that has seen numerous records in the asset class broken. The activity was variously described by bankers as a “bonanza” with “no end in sight” for demand, causing both excitement and a tinge of bewilderment among market pros.
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Bank of Tokyo-Mitsubishi UFJ inserted a fifth tranche to its blowout $4bn bond on Tuesday, adding a 30 year deal after US investors showed strong demand for the longer tenor.
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The private equity owners of Netherlands-based Brit Insurance launched a £250m IPO on Tuesday, hoping that the firm can break free of investor concerns around the sector.
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The International Financing Corp provided offshore renminbi investors with much sought after AAA-rated credit exposure, pricing its Rmb1bn ($163m) three year deal on Tuesday, as investors continued to react to increasingly negative emerging market headwinds.
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Bank of Tokyo-Mitsubishi UFJ launched a four - possibly three - tranche dollar offering on Tuesday afternoon, after bankers pushed back announcement of the deal from this morning to first gauge the performance of Asian markets amid the mounting political crisis.
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Malaysia Airports Holdings raised MR980m ($299m) via an accelerated bookbuild on Monday as it looks to put the finishing touch to its acquisition of a controlling stake in Turkey’s Istanbul Sabiha Gokcen International Airport.
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Tensions in Russia and Ukraine forced high yield credit spreads wider on Monday. The Markit iTraxx Crossover index of credit default swaps added 14bp, but Labeyrie Fine Foods and Lowell Group still decided to launch bond issues.
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Almost the entire leveraged finance team at JP Morgan headed to the US last week for the bank’s annual high yield conference. The venue, however, was not just any old dreary seminar space.
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The International Finance Corporation released guidance on a new short three year offshore renminbi (CNH) bond on Monday, March 3.