Monday, 18 December 2017

Owen Wild' s stories

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  • Structured Equity House: JP Morgan cartoon

    Structured Equity House: JP Morgan

    All Special Reports | 18 December 2015

    Market conditions were ripe for a big year in structured equity, but issuance disappointed. Yet JP Morgan managed a leadership position in every region and led trophy deals with skill and panache. It is IFR’s Structured Equity House of the Year

  • EMEA Structured Equity Issue: America Movil’s €3bn bond exchangeable into KPN

    All Special Reports | 18 December 2015

    Carlos Slim had given up hope of controlling KPN, so what to do with the 24.8% stake held following America Movil’s failed bid for the Dutch telecoms firm in 2013?

  • Flurry of deals hits pricing

    Structured Equity | 27 November 2015

    Total has continued the run of synthetic issues this year by issuing US$1.2bn of non-dilutive seven-year convertibles. Wednesday’s trade follows similar synthetic transactions by National Grid (£400m), Iberdrola (€500m) and Vodafone (£600m) all in the space of two months.

  • IAG extracts value from CB buyers

    Structured Equity | 13 November 2015

    International Airlines Group showed, once again, that a powerful brand – the holding company owns British Airways and Iberia – can ensure a similarly rapturous response to a convertible bond as an investment-grade rating. Clearly, the deal size of €1bn, split equally between five and seven-year paper, was the other major factor in attracting interest as a deal of this size goes into the convert indices so is hard to miss.

  • A Eurobank branch in Athens

    Greek banks wrap up follow-ons

    Equities | 13 November 2015

    Finally, all four major Greek banks are in the market with their stress test-driven capital increases, allowing investors that were waiting to choose between them to make up their minds on where to put their money.

  • Deutsche Bank headquarters in Frankfurt

    Deutsche disbanding CMTS as restructuring begins

    Capital City | 10 November 2015

    Deutsche Bank’s capital markets and treasury solutions division (CMTS) is to be dismantled as the restructuring of the German lender gets under way, according to sources.

  • Piggybank

    Greeks return: Third time lucky?

    Top News | 06 November 2015

    Greece’s banks are back, and for the third year in a row are asking equity investors to save them from nationalisation. The fundraising target of around €5.5bn across Piraeus Bank,

  • Atlas Mara back on acquisition trail

    Structured Equity | 02 October 2015

    African banking group Atlas Mara has issued a senior secured convertible bond through a private placement as part of a fundraising to back future acquisitions. The US$52.4m raised through the issue of five-year bonds adds to US$200m secured from the Overseas Private Investment Corporation, the US government’s development finance institution, enabling Atlas Mara to crack on with expanding its sub-Saharan operations.

  • Slim opts for mandatory

    Structured Equity | 11 September 2015

    European structured equity bankers have a new hero – Carlos Slim. Repeat issuers are the lifeblood of the small market so the companies and individuals that make regular appearances in the market are feted – such as billionaire John Fredriksen, who has used convertible bonds as a major source of financing at his many companies.

  • America Movil returns with more KPN bonds

    Ticker | 10 September 2015

    America Movil looks set to price its €750m mandatory exchangeable bonds into Dutch telecoms company KPN at mid-terms after closing the book early this afternoon. The final message to investors was that orders away from mids will miss out, suggesting pricing with a 5.5% coupon on the three-year bonds.