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Monday evening sale is latest block trade
◆ Danish biotech prints three tranches along the curve ◆ Seven year bond proves the sweet spot ◆ Proceeds to refinance €1.5bn acquisition bridge
Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
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The European Parliament was on Thursday set to agree a declaration to the European Commission calling for a “massive recovery package”. -
A €1bn block of shares in TeamViewer, the German remote access software company, sold by investment firm Permira, one of its IPO sellers, garnered strong demand from investors on Wednesday evening.
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Ukraine’s politicians have finally passed a banking law that will put the country in line for a support package from the International Monetary Fund.
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Paper and pulp maker Sappi is raising a new €250m senior five year non-call two bond, looking to shore up its already ample corporate liquidity, following an existing agreement with its revolving credit facility (RCF) lenders to waive covenants until March next year. But despite the company’s actions, its outstanding bonds are quoted as low as 80, meaning it will likely have to pay up.
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Indonesian palm oil producer Perkebunan Nusantara III (PTPN) is seeking consent from banks to delay payments on a dollar loan, given expectations of a hit to its business because of the Covid-19 pandemic. But bankers told GlobalCapital Asia this week that the state-owned company has enough cash to make the payments, with the syndicate team set to reject its deferral request. Pan Yue reports.
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Euro area banks are expected to make use of the relaxation of their Pillar 2 capital requirements by issuing more capital instruments in the coming months, following the example set by Deutsche Bank this week.
