Sunday, 29 November 2015

Owen Wild' s stories

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  • 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.

  • Agricultural Development Bank logo

    Way clear for ADB to relaunch IPO

    Equities | 21 August 2015

    The IPO of Agricultural Development Bank is in limbo following the end of proceedings to block the float in the Supreme Court but with no decision on relaunching last week. A revival of the privatisation is imminent and should simply involve a new closing date, with no terms of the deal required to change

  • sainsury

    Sainsbury shops around for best price

    Top News | 24 July 2015

    A new sterling offer from J Sainsbury brought the corporate hybrid market back to life on Thursday, after a combination of interest-rate and Greece-related volatility put a swift halt on new supply in recent months.

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