News content
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The bookbuild for the IPO of Spie —the French electrical, telecoms and technical services company — was launched on Monday June 1, and was covered on the first day.
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Europcar began premarketing its IPO on Monday, seeking to raise €475m of primary proceeds to cut a €2.2bn debt load, as well as some secondary proceeds to be decided later.
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While liquidity in all markets is worse than it was pre-crisis, high yield bonds have seen the smallest downturn – and liquidity has picked up since 2012, according to research from JP Morgan.
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Corporate bond issuers hung back from issuing in euros on Monday, as markets made a soft opening. But the pipeline continued to fill and issuers like Eurogrid and Mohawk Industries are in the offing.
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Apple is set to issue its first ever bond in yen this week, adding a fourth borrowing currency as it funds its growing programme of returning capital to shareholders.
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Powerhouse Habitat, an unusual French property company that owns housing for nuclear power station workers, began premarketing on Monday June 1 for a Paris IPO of at least €370m. BNP Paribas and JP Morgan are global co-ordinators.
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A German agency is set to bring a dollar benchmark in 10 years — a tenor that could be due for a comeback after being largely shunned in May.
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Valeo Foods, the Irish food producer, has closed books on a €595m loan to finance its acquisition of Balconi and refinance debt.
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Asian Development Bank on Monday mandated banks for its first bond in Canadian dollars this year.
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Optimal Payments, the Isle of Man-based secure payments provider, has repriced the financing for its acquisition of Skrill, before closing the deal, and replaced amortising loans with a bullet facility.
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Almost 80% of United Arab Emirate investors surveyed by asset manager Franklin Templeton are interested in Shariah compliant investments. But almost two-thirds are attracted by factors other than ethics, according to firm's survey.
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Chinese companies will increasingly seek to list in the onshore market as valuations on the Mainland hit feverish levels and China overhauls its foreign investment laws and IPO system, said industry experts. This also means the variable interest entity (VIE) could eventually vanish.