Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
Floor & Decor, the best-performing US IPO of 2017, became the first company to take advantage of new SEC rules allowing recent IPOs to file confidentially for follow-on stock sales, in an early sign that capital markets are embracing the securities regulator’s push to spur new issues.
Telecoms infrastructure REIT Crown Castle International moved to derisk its US$7.1bn acquisition of privately held fibre provider Lightower by funding the bulk of the deal with a dual-tranche US$5bn equity/equity-linked financing.
US equity capital markets capped off an auspicious week as several strong debuts and large follow-ons buoyed the mood of syndicate desks.