Robert Venes is assistant editor of equities and structured equity at IFR. Robert joined IFR in late 2009 from sister title Acquisitions Monthly, where he focused on private equity transactions and fundraisings. He was previously associate editor at Private Equity International and, before that, editor of Venturedome.
- +44 (0) 20 7542 8326
Belgian steel cord manufacturer Bekaert raised €380m from zero-coupon convertible bonds due 2021 last Thursday, with proceeds going towards a buyback of its €300m 0.75% debut 2018 CBs. The new paper is the company’s second issue of convertible bonds, with the existing bonds issued in June 2014.
Dutch issuance has dominated the European ECM pipeline so far in the second quarter, providing some of the year’s largest and highest-profile deals, yet activity in the rest of the region remains muted.
Nearly three months since slashing the size of Sif’s IPO in a fruitless attempt to get the deal done, private equity owner Egeria Capital has floated the monopile maker. The revival came with the original terms from February, illustrating that the deal was sound but got caught up in a difficult market.