Natixis
-
Beni Stabili printed a “gutsy” investment grade corporate trade at the start of the week. The BBB- rated Italian firm managed to attract investors despite plenty of background noise, though bankers said it may send other prospective issuers mixed messages. -
French car parts maker Novares has pulled its €260m IPO on Euronext Paris as global equity market volatility meant that the deal could not be achieved at a level which was in "the best interests" of the company.
-
Europe’s speculative grade debt markets began cautiously weighing the impact of a recent surge of US-driven volatility this week. While high yield issuers remain circumspect, leveraged loan borrowers led by French calibration specialist Trescal are charging on, confident that investor demand remains strong.
-
There has been no book update or price guidance yet on the €260m IPO of Novares, the French plastic car parts maker, according to a source close to the deal. The books are due to close this week.
-
-
The euro SSA market reacted with commendable calmness to the Dow Jones’s worst day in six years on Monday but moves in the secondary market on Thursday showed that “vol isn’t dead”, according to one head of SSA DCM.
-
The European Financial Stability Facility (EFSF) gathered a €14bn book on Wednesday, easily covering its €3bn no-grow deal. The no-grow language, plus the pick-up to OATs it offered, likely helped demand, said bankers.
-
A pair of euro borrowers braved a tricky market on Tuesday, raising a combined €4bn despite heavy weather in government spreads. One opted for a defensive pricing strategy, while the other attempted to squeeze investors.
-
US oil and gas company Kosmos Energy, which operates in Africa, has refinanced a reserve-based lending facility signed in 2015.
-
Novares, the French plastic car parts maker, has begun bookbuilding for its rebooted €260m initial public offering on Euronext Paris.
-
The investment grade corporate bond market has started February with intent, with Thursday registering as the second busiest day of 2018 so far.
-
Private equity firm 3i is taking advantage of bullish conditions in the leveraged loan market to launch its fifth dividend recapitalisation of Action, the Dutch non-food discount retailer it bought in 2011.
