Morgan Stanley
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CEVA Logistics, the freight management and contract logistics company listing in Switzerland, has narrowed the price range on its IPO. The books are covered in excess of the deal size in the bottom half of the range. -
GTT Communications, the US cloud networking provider, has mandated banks to arrange a dollar and euro loan of $2.87bn-equivalent for itself and a Dutch subsidiary. The deal will only go through if it completes its acquisition of Luxembourg’s Interoute.
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Despite expectations of a slowdown in the pace of issuance in the European high yield market, two borrowers brought €2.9bn of new bonds this week. Both issuers, Spanish construction firm Aldesa and Italian banking payments group Nexi, marketed refinancing deals.
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T-Mobile US has lined up $38bn of fully committed loans to finance its $26bn purchase of US telecommunications company Sprint.
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Real estate developer Vinhomes has launched bookbuilding for its D31.8tr ($1.4bn) listing, set to be Vietnam’s largest equity offering to date.
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Indian real estate company Lodha Developers is preparing to raise up to $562m from the primary portion of its planned IPO, according to a draft red herring prospectus filed on Thursday.
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The European Financial Stability Facility attracted a heavily oversubscribed book for a deal on Tuesday and was able to tighten its pricing considerably, but onlooking bankers did not seem taken by the supranational’s strategy.
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South Africa’s Aspen Pharmaceuticals has mandated banks to arrange a refinancing exercise, according to two bankers away from the top line, but African loan bankers face a meagre pipeline of business following lower first quarter volumes than in the same period last year.
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Avast, the Czech cyber security company, has set the terms of its London IPO, valuing it at £3.2bn at the top of the range.
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Springer Nature, the German academic publishing group, has opened the books on its €1.3bn Frankfurt IPO with a price range that gives a “healthy discount” to peers.
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The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.
