Search results for

Pirelli & C Real Estate will be aiming to attract investors with its unique business model when it floats later this month. The company set the price range on Monday at Eu26-Eu31.5, to give a valuation for the equity of Eu950m-Eu1.15bn. Pirelli Real Estate will float 40% of its capital on the MTA segment of the Borsa Italiana, of which about Eu105m-Eu120m will be a capital increase.

This week Pliva, the largest pharmaceuticals company in central and eastern Europe, has successfully secured a $165m three year club-style facility through mandated arranger Citigroup/SSSB. The deal pays a margin of 50bp over Libor. The facility will be used to fund the acquisition, which was also announced this week, of Sidmak Laboratories of New Jersey.

The Eu100m four year facility for BRE Leasing is due to be signed at the end of this month following the close of syndication. Commerzbank is arranging the deal, which pays a margin of 62.5bp over Libor.

Yell, the directories business sold by BT Group last year, will value its equity at £1.8bn-£2.3bn when it floats at the start of July. The company announced yesterday (Thursday) a price range of 270p-345p a share, and said that the IPO would comprise a £300m secondary sale in addition to a £750m capital increase from Yell.

Brazil's finance team quelled the panic in the local and international bond markets yesterday (Thursday) by announcing a comprehensive cache of fiscal, monetary and debt management weapons to battle the freefall in the currency and bond prices. Both Brazilian bonds and the real soared on news that the government would raise its 2002 primary surplus projections to 3.75% from 3.5%, would lower the 2002 target on net foreign exchange reserves to $15bn from $20bn (foreign reserves are currently around $28bn), buy back up to $3bn of external debt due in 2003 and 2004, and draw down $10bn of an existing IMF line of credit to buy back debt and support the real.

The $210m four year facility for Société Nationale des Pétroles du Congo (SNPC) has been launched into general syndication. KBC, Rand Merchant Bank and Standard Chartered are mandated arrangers.

Lehman Brothers and HBOS, as joint lead underwriters, together with ING as arranger, have launched the general syndication of the £175m financing for the Royal Bank Private Equity-led buy-out of safety and transportation group Britax. At this stage banks have been offered tickets of £10m for 80bp, with the leads looking to raise around £40m from the market. A bank meeting will be held on Monday.

Croatian shipbuilder Brodosplit Plovidha has returned to the loan market to secure a $10m two year facility. Four banks have joined the club-style facility: Standard Bank for a ticket of $3m, Erste Bank for $2m, LB Kiel for $3m and LBS New York -which is a wholly owned subsidiary of Nova Ljubljanska banka - for $2m.

Rating: Aaa Amount: Sfr600m

Guarantor: Cadbury Schweppes plc Rating: A2/A

Rating: A- (Fitch) Amount: Eu165m