Morgan Stanley
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LafargeHolcim, the French-Swiss cement group, found ample demand in the European bond market on Wednesday for a tap issue, showing how keen appetite remains, despite the nearness of the UK’s referendum on leaving the European Union next week.
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Unit4, the Dutch online application provider, is marketing a €230m term loan with replies due this week, but European investors have voiced difficulties in understanding the IT sector. -
Basic-Fit, the low cost gym group, made its debut on Euronext Amsterdam on Friday morning, after an IPO that was priced towards the bottom end of its range on Wednesday.
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Frasers Centrepoint has priced its Singapore real estate investment trust IPO at the top of guidance, bagging S$903m ($666.5m) after investors came out in force at the top of the range.
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Dong Energy’s IPO, the biggest in Europe so far this year, achieved a strong result, both in its bookbuild, which raised Dkr17.1bn ($2.6bn), and on its first day of trading on Thursday, when the shares jumped 10%.
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The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond 25bp inside guidance levels — giving heart to issuers that would rather not wait for the UK referendum result.
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A resurrection of what should have been last year’s biggest deals from Veritas and a euro deal from Altice point to a leveraged loan market that has returned to good health, writes Max Bower.
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Two live Dutch IPOs for state-owned insurer ASR Nederland and gym chain Basic Fit have both issued revised price guidance. ASR remains on track to become the largest Amsterdam IPO of the year.
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Emerging market bonds gained renewed energy this week as the likelihood of a US rate rise in June fell. A torrent of issuers are bringing new bonds on both sides of the Atlantic.
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Basic-Fit, the low cost gym group, is expected to issue revised price guidance for its IPO in the next 24 hours.
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Of the five IPOs due to reach completion this week, Norway’s B2 Holding finished its bookbuild today and Dong Energy has put out final guidance. Van Lanschot has also just revised its guidance. The other two — ASR Nederland and Basic-Fit — have still to refine their original price ranges.
