Search results for

NordSee, the German fish restaurant chain, will announce a price range for its Eu200m IPO this weekend, after premarketing the company for the past two weeks. Germany's third largest fast food chain, behind McDonald's and Burger King, plans to set final pricing on June 25. The deal is being lead managed by UBS Warburg. The IPO is a combination of 40% primary shares and 60% secondary shares. The secondary shares are mainly being sold by private equity house Apax Partners, which owns 88% of the company and will retain more than 10% after the IPO.

* Statnett SF Rating: Aaa/AAA

Svensk Exportkredit (SEK) has issued only the third ever Eurolats bond, a Lats6.4m (Eu11.8m) one year offering via local intermediary Parex Bank. The bond offers a 6% coupon, priced at par, and a one year maturity. The deal marks a step forward for Parex in its pan-Baltic investment banking business. It did not lead managed either previous Eurolat deal, although it was a co-manager in a previous deal for Nordiska Investieringsbanken (NIB).

Thomas Deininger has joined Bear Stearns in London from HypoVereinsbank as a vice president in the loan syndicate and par loan trading team. He will focus on primary and secondary loan distribution and will be working with Oliver Blount, Victoria Ford and Ross Williams.

* Allgemeine Hypothekenbank AG Rating: Aa1/AAA/AAA

The Republic of South Africa has closed a 20-year yen trade, its second trade this year. The ¥30 billion ($251.7 million) note is non-syndicated and pays a final coupon of 3.8%. In April the borrower issued a euro500 million ($424.2 million) seven-year syndicated trade. Deutsche Bank and Merrill Lynch were the joint lead managers.

KPN's share price fell heavily this week on speculation that the Dutch telco is considering a Eu5bn rights issue. In the wake of British Telecom's £5.9bn right issue, which is in the market, investors showed their reluctance for a similar deal for KPN by selling the stock in vast quantities. The speculation showed the level of uncertainty with which investors now view the company, in the face of its huge Eu23bn debt pile and inability to carry out the asset sales that it promised it would execute.

The South African domestic market passed another milestone in the development of its corporate bond sector with a popular R1.2bn (Eu176m) five year deal by the Harmony Gold Mining Company. The issue, the first ever from a mining company, was launched this week via JP Morgan. A banker in the syndicate said the main concern for the bookrunner was pricing, and that JP had done a sterling job to convince borrower's and investors.

RTL Group, the Luxembourg-based broadcaster, is due to sign a euro1 billion ($849.2 million) Euro-CP shelf. Moody's has assigned an A3 long-term issuer rating and a P-2 short-term debt rating.

After a quiet week, the European convertible market bounced back with the launch of five new issues over the past few days. One was the Eu412m multi-tranche exchangeable bond for Societa Assicuratrice Industriale (SAI), the Italian insurance company, led by BNP Paribas and Mediobanca. The collection of three bonds, exchangeable into Banca IntesaBci, Assicurazioni Generali and Banca di Roma, will enable SAI to dispose of these stakes. "This is the most efficient way to raise funds at an attractive cost," said a banker close to the deal. "They are confident they won't have to pay the redemption premium."

Denmark Syndication prospects are looking good for the Eu1.5bn multi-currency revolver for Tele Danmark (TDC) following last Friday's bank presentation.

* Bremer Landesbank Capital Markets plc Guarantor: Bremer Landesbank Kreditanstalt Oldenburg Girozentrale