Morgan Stanley
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Swedish car safety specialist Autoliv has refinanced a $1.1bn revolving credit facility, with two banks leaving and two joining the syndicate. Deals in the region have seen rival lenders increase their share of bookrunning volumes this year. -
Two block trades by UniCredit this week, totalling €1.08bn, offered further confirmation that the equity capital market is functioning well, and that there is ample demand for good European stocks, including from US long-only investors.
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Standard Chartered has made a new hire in its Europe DCM team who will be focused on corporates.
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Italian gaming operator Sisal priced the all-bond funding of its buyout by CVC Capital Partners on Thursday, and brought to life a high yield market still stunned by the Brexit vote.
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Teva Pharmaceutical Industries has started a series of investor calls and meetings to market a triple currency bond that is expected to be one of the largest new issues of the year.
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UniCredit used similar tactics on its accelerated bookbuild sale of 10% of Bank Pekao on Tuesday night to those it had used for Monday’s sale of FinecoBank — and achieved a similar result: multiple times oversubscription, led by one very large anchor order.
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UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector.
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Chinese logistics firm ZTO Express is seeking approval for an IPO in the US that could raise up to $2bn, according to a source familiar with the matter.
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Brazilian industrial conglomerate Cosan followed the strategy of its compatriot Petrobras on Monday, tapping recently issued bonds after a strong response to a tender offer.
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Italian gaming operator Sisal on Monday started a roadshow for the all-bond funding of its buyout by CVC Capital Partners, in a high yield market still stunned by the Brexit vote.
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Hong Kong Telecommunications (HKT) stood out in what was a very crowded Thursday for the Asia ex-Japan dollar bond market, pricing the region’s tightest triple B rated 10 year bond.
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