UBS

High grade borrowers are set to pull the trigger on a slew of refinancings and M&A deals after the Federal Reserve took a big step closer to its first interest rate rise since 2006 following the conclusion of a two day meeting in Washington on June 17.

Flow Traders Coöperatief, a Dutch financial trading company specialising in exchange-traded products such as ETFs, has announced its intention to float in Amsterdam.

Telecom Italia raised gross proceeds of €796m from the IPO of Inwit, its telecom towers business, for which bookbuilding closed on the morning of Wednesday June 17.

Shareholders of China Communications Construction Co (CCCC) have voted firmly in favour of the spin-off and listing plans of the company’s dredging unit, in a deal that could raise as much as $800m.

Banca Monte dei Paschi di Siena made a successful conclusion to its €3bn rights issue this week, when the last tiny scrap of shares was swiftly auctioned on Tuesday.

The investment grade corporate bond market suffered another difficult day on Monday, with the breakdown of talks between Greece and its creditors at the weekend giving issuers and investors ample reason to shun the primary market.

GNF Telecom, the telecoms unit of Gas Natural Fenosa which was bought by Cinven last year, is seeking to cut the margin on a €295m leveraged loan it allocated last July.

British Airways is refinancing $1.25bn of credit facilities in a deal that is separate from the €1.4bn loan its parent company, International Airlines Group, is using to buy Aer Lingus.

It’s a case of a high-profile issuer garnering support from equally eminent investors, as Legend Holdings, the conglomerate that owns Lenovo, launched its Hong Kong IPO that could raise as much as HK$17.5bn ($2.3bn).

Shares and rights of the two Italian banks going through recapitalisation rights issues made big moves again on Thursday, but bankers believe the deals for Banca Monte dei Paschi di Siena and Banca Carige will still succeed.

Labco, the French medical diagnostics company, plans to refinance all of its bonds with a new €800m issue. It agreed in May to be bought by private equity firm Cinven after pulling an IPO at the last minute.

Service Industriels de Genève, a public sector mixed utility provider, returned to the Swiss franc market for the first time in more than 15 years on Thursday.