Spain
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Banco Santander posted a €1.6bn profit for January to March, above market expectations but 5% down from 2015’s first quarter, which the bank blamed on local currencies’ depreciation against the euro. -
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Thursday was the busiest day of the year so far for euro bank capital, as FIG borrowers betrayed nerves over how long investors’ risk appetite might last.
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Bankinter raised €200m of well-flagged additional tier one capital on Thursday, coming good on its promise to soften the financial impact of the bank’s expansion into Portugal.
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The recent run of good news on IPOs was broken on Wednesday when Telepizza made a dire debut on Bolsa Madrid after its €550m flotation, priced on Tuesday.
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Amadeus, the Spanish airline ticketing systems group, has signed a €500m revolving credit facility with a group of 12 banks, bringing in two new lenders as two dropped out.
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Telepizza, the Spanish pizza delivery group partly owned by Permira and KKR, closed its €550m IPO bookbuild today and is set to price it at €7.75 a share, a third of the way up the original range. It will use proceeds to repay debt, after restructuring its debt in 2014.
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Spanish utility company Iberdrola will launch a new money term loan later this year, according to a banker familiar with the matter.
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Spanish IT company Amadeus will complete its €500m revolving credit facility later this week with some changes to its bank group, according to a banker familiar with the deal.
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Bankinter will begin meeting investors for a sale of additional tier one bonds on Wednesday, while fellow Spaniard Banco Sabadell and Italy’s UBI Banca are also set to issue capital in the next few days.
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Carlyle conducted its second block trade in Applus Services shares on Wednesday night. The industrial testing and inspection company has been a poor bet for investors in its €1.2bn IPO in May 2014. Exposure to the oil and gas industry has cost it 40% of its market value.
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Distribuidora Internacional de Alimentación, the Spanish discount food retailer, issued €300m of five year bonds on a busy Monday when there were two other deals in the market.
