Equities

IFR US ECM Calendar

 |  Robert Sherwood

April 7: Legence (US, industrial) ─ $645.5m FO. 11m shares (Secondary) versus $58.68 at launch. GS, JEFF, BOFA. Blackstone Group is the selling shareholder. 

April 7: Scorpio Tankers (Monaco, oil tankers) ─ $300m 5y cvt marketed at 1.75% fixed coupon and 35% fixed conversion premium. MS. Wall-cross. Concurrent share repurchase to facilitate delta hedging.

 April 7: Tamboran Resources (Australia, energy E&P) ─ $109.7m ABB. 3m shares (Primary) marketed at $35.00-$37.00 versus $45.34 last sale. RBC, WF. Wall cross. Concurrent entitlement offering with Australian investors via registered direct offering. 

April 15: Madison Air Solutions (US, industrial) ─ $2.23bn IPO. 82.7m shares (Primary) at $25-$27. GS, BARC, JEFF, WF. NYSE “MAIR”. Morgan Stanley Investment Management, Durable Capital and HRTG have indicated for $525m combined of offering. Founder Larry Geis purchasing $100m of Class B shares through concurrent private placement.

Topics
Americas Equity Capital Structured Equity Marketed Follow-Ons North America United States Initial Public Offerings (IPO) Canada ABBs and Block Trades US Dollar Asia / Pacific Australia
Issuers
Legence Corp (LGN.OQ) Madison Indoor Air Solutions LLC Scorpio Tankers Inc (STNG.N) Tamboran Resources Corp (TBN.AX)