The Netherlands
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VolkerWessels, the Dutch construction company controlled by the Wessels family, has opened the books for its Amsterdam IPO, which could value the business at up to €2bn. -
Stocks across Europe enjoyed a relief rally following the victory of Emmanuel Macron in the first round of the French presidential election on Sunday, causing the blocks market to burst back into life after muted activity in the week before the vote.
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On Monday evening, Stichting Fonds NutsOhra, a Dutch charitable fund, hired JP Morgan to sell a newly created 2.5% stake in NN Group, the Dutch insurer and asset manager, through an accelerated bookbuild that was covered after 25 minutes.
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Unibail-Rodamco has signed today its green loan, one of the first syndicated facilities to offer the borrower a pricing benefit if it hits sustainability targets. The loan was increased twice in syndication after being oversubscribed, from €500m to €600m and then to €650m.
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Hard on the heels of Unibail-Rodamco’s ground-breaking green loan, believed to be the first large corporate financing to give the borrower a pricing benefit if it hits sustainability targets, Koninklijke Philips, the Dutch health technology group, has signed a similar €1bn loan linked to its sustainability rating, writes Jon Hay.
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Theresa May stunned the UK on Tuesday by calling a snap general election, but equity capital markets remain calm and the next wave of IPOs is becoming more visible, with two more new deals announced this week.
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VolkerWessels, the Dutch construction and property development group owned by the Wessels family, has announced its intention to float on the Amsterdam Stock Exchange, over a decade after it was taken private in a buyout.
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Telenor, the Norwegian telecoms company, has sold a 4% stake in Veon, the Russian telco formerly called VimpelCom, for $262.5m through a block trade.
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NLFI, the organisation that manages investments for the Dutch government, has completed its second block trade of shares in ASR Nederland, the insurer that was nationalised during the financial crisis.
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Euronext spurned the London Stock Exchange Group (LSEG) on Monday by completing a preliminary agreement with Intercontinental Exchange (ICE) Clear Netherlands that will provide the European exchange's clearing services in commodity and financial derivatives for the next 10 years.
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Telia and Tennet broke 2017’s euro corporate hybrid fast by bringing trades within a day of each other. Bankers said investors will have the chance to gorge themselves as plenty more issuers are lining up after the success of this week’s deals.
