Owen Wild is Deputy Editor of International Financing Review based in London. He joined IFR in 2004 and in the past seven years has worked across Equities, Structured Equity and Derivatives sections as both reporter and editor. Prior to becoming deputy editor in 2010, he had global responsibility for IFR’s ECM coverage. Before joining IFR, Owen covered foreign exchange markets. Follow Owen on Twitter @IFR_Owen
- Tel: +44 (0)20 7369 7725
- E-mail: email@example.com
It was inevitable that once the supply/demand imbalance in convertible bond issuance was corrected, at least one deal would suffer. So it proved in Europe. Six new issues came to market in just three days but investors shunned a trade from Italian asset manager Azimut.
The ease with which cross-over credit Telecom Italia raised €1.3bn through a mandatory convertible bond issue overnight on Thursday showed why European corporates are, for once, rushing to tap the equity-linked market. But the fever among investors was better illustrated by their willingness to buy an exchangeable issued by Ampliter – a Netherlands-registered holding company that one bookrunner described as “a black box”.
The UK’s Financial Conduct Authority has moved to tighten listing rules for companies coming to London by restricting the influence of major shareholders. The regulatory changes will give smaller shareholders greater influence – including voting rights – on key decisions.
- Sovereign issue
- Investors switched on for Numericable
- Rush for OHL on its return
- Fixed income slump threatens shake-up
- Royal Mail IPO already covered
- Block dominance hits ECM profits
- Anchors cement OCI debut