UniCredit
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The IPO of Gategroup, the Swiss airline catering company, has been cancelled after market conditions led to a 'gap in valuations' between the issuer and buyers. -
The pipeline of high yield deals from German real estate borrowers is finally building up after more than two years of work with underwriters and lawyers. A new €300m bond from Corestate should pave the way for more players to shift their funding from bank loans to bonds, said market participants.
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Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.
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The auto finance arm of General Motors opted for short maturities to try to ensure the success of its first bond sale of 2018, but the €1bn dual-tranche deal only received orders of €1.7bn and the lead managers were only able to tighten one of the tranches from initial price thoughts.
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RHI Magnesita, the Austrian-Brazilian maker of refractory products, has refinanced its debt with a new €305.6m five year term loan.
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GlobalCapital revealed the winners of its Equity Capital Markets Awards 2017 at our third annual Awards Dinner in London on March 20. CEOs and CFOs were present to collect Awards for landmark deals such as the UniCredit and Santander rights issues and the IPOs of Allied Irish Banks and Pirelli.
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Ukrainian steel and mining company Metinvest is planning to buy back the complex secured bonds it issued as part of its $2.3bn debt restructuring last year, and will finance the move with a new dual tranche dollar offering.
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Italian business software vendor TeamSystem returned to the public bond market to refinance a floating rate note it placed privately in 2016, as high yield fund managers increase their demand for floating rate debt this year.
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The auto finance arm of General Motors opted for shorter maturities to try to ensure the success of its first bond sale of 2018 on Monday. But the €1bn dual-tranche deal only received orders of €1.7bn and the lead managers were only able to tighten one of the tranches from initial price thoughts.
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Russian gold miner Nordgold and coal company Siberian Coal Energy Co (suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.
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Corporate bond issuers who sold their deals earlier the week found execution much easier than those who came later in the week. Strong order books and single digit new issue premiums gave way to premiums of as much as 20bp and one deal having to be downsized.
