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As funds swell, pressure to deploy rises and managers can stray from their expertise
The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
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Mediobanca’s plan for the next four years involves boosting advisory origination and using capital more efficiently in its corporate and investment bank (CIB). It is also committed to issuing a sustainability themed bond.
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Heathrow Finance, the holding company for Europe’s largest airport, brought a £250m 10 year bond to market on Tuesday, with global co-ordinators Barclays, BNP Paribas and ING, announcing the bullet maturity deal with no roadshow or marketing effort. The deal was priced through talk and increased to £300m.
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Antonio Brina is joining JP Morgan from Bank of America Merrill Lynch to lead basic materials investment banking for Europe, the Middle East and Africa.
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Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.
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Alternative asset manager Tikehau Capital has appointed Olga Kosters to run the firm’s newly launched private debt secondary markets business.
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Ball Corporation, a US metal packaging and aerospace technology company, is looking to cut its financing costs with a €900m issue of senior unsecured notes. Crown, its closest peer in metal packaging, set a new floor — just 0.75% — for high yield coupons in Europe in October.
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