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Trade was oversubscribed in under 20 minutes
In highly concentrated book, top 20 investors take 90%
The relaunched IPO was cancelled after leads attempted to reduce the transaction to around €300m
Relief that the first European IPO after summer has grown in the aftermarket, though not without large concessions
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Market still functioning but bank run fears are not good for sentiment
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Deal guarantees existing commitments but questions abound about future strategy
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Nine fundraising professionals leave amid restructuring of offering
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The loan is not to finance takeover, but will refinance coming maturities
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Leveraging-up deals are being done again as lenders need to put capital to work
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New strategy will target tickets of more than $500m after banks retreat from sponsor-backed LBOs