Tuesday, 17 October 2017

Stephen Lacey' s stories

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  • Gardner Denver, Solaris slip on oil decline

    Equities | 12 May 2017

    The IPOs of Gardner Denver, the KKR-backed industrial conglomerate, and frac-sand storage unit maker Solaris Oilfield Infrastructure both faced harsh valuation scrutiny. Despite taking below-range pricing, both elected to move forward, allowing them to

  • DHX Media manoeuvres to fund Peanuts purchase

    Structured Equity | 12 May 2017

    DHX Media, the producer of TV content for children, welcomed Peanuts and Strawberry Shortcake to its growing catalogue of shows by agreeing to pay US$345m to owner Iconix Brand.

  • SBD gets credit for US$675m MCB

    Structured Equity | 12 May 2017

    Stanley Black & Decker again showed off its financial sophistication with an innovative US$675m mandatory convertible designed to maximise accounting benefits in a rating-friendly wrapper. In the context of a US$21.3bn market capitalisation, the benefits of the security are incremental – but the deal is consistent with the power tool maker’s reputation for financial tinkering.

  • Pumpjacks taken out of production

    Liberty fracker gets rocky reception for IPO

    Top News | 05 May 2017

    Liberty Oilfield Services was forced to cancel its IPO on Thursday, even after slashing the asking price and the number of shares on offer in an effort to get over the line. The failure was almost inevitable as the pressure-pumper simply could not defy the collapse in share prices of oilfield services stocks this year.

  • Alignvest SPAC takes forward-looking view

    Equities | 05 May 2017

    Alignvest Acquisition II, the second special purpose acquisition company vehicle sponsored by Canadian alternative asset manager Alignvest Management, is employing a forward purchase agreement on its C$250m (US$182m) IPO. The forward purchase agreement totals C$113m.

  • Gardner Denver in US$1bn-plus IPO

    Equities | 05 May 2017

    KKR-backed industrial products company Gardner Denver is off and running in its bid to return to public markets, launching an IPO to raise up to US$1.1bn to cut debt.

  • Antero Midstream GP stumbles on debut

    Equities | 05 May 2017

    Antero Midstream GP, a seemingly reliable play on dividend growth, stumbled in its debut session and closed at US$22, below the US$23.50 price set on its IPO of 37.25m shares.

  • Logo of Gardner Denver

    Gardner Denver launches up to US$1.1bn IPO

    Ticker | 03 May 2017

    Gardner Denver is off and running on its bid to return to the public markets, launching an up to US$1.1bn IPO that the KKR-backed industrial conglomerate would use to deleverage.

  • Liberty fracker gets rocky reception for IPO

    Ticker | 03 May 2017

    Liberty Oilfield Services hopes to begin trading this week under the stock ticker BDFC - the Best Damn Fracking Company - but its arrival as a public company has been a little bit rocky.

  • Blackstone Mortgage targets US$250m with CB

    Ticker | 01 May 2017

    Mortgage REITs are gaining traction as an investment alternative to traditional bank lenders. As KKR-affiliated KKR Real Estate Finance Trust prepares to price its IPO this week, Blackstone Mortgage Trust signaled its bullish origination pipeline by launching a US$250m five-year convertible bond Monday.