Ireland
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Etienne Lacault has joined Bank of Ireland’s leveraged syndicated finance team, the bank said in a notice on Friday. He last worked at Société Générale. -
Bank of Ireland is gearing up to issue its debut debt security from its new holding company, adding to a flurry of post-summer deals in which issuers sell new types of regulatory debt for the first time.
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Greencoat Renewables, the newly created Irish wind farm operator managed by Greencoat Capital, has managed to increase the size of its IPO on the Dublin and London bourses by €20m, after it won demand from around 80 investors.
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In this week’s round-up, the China Securities Regulatory Commission (CSRC) considers launching A-share related derivatives in Hong Kong after MSCI’s inclusion, Citi launches two onshore bond indices, and the Chinese premier says M&A by foreign companies is welcome in the Mainland.
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Ireland has printed just shy of the 50 year part of the euro curve using a pair of private placements, a market it has used with increasing frequency over the last year.
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Ireland has printed just shy of the 50 year part of the euro curve using a pair of private placements, a market it has used with increasing frequency over the last year.
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Shares in Allied Irish Banks rose 5% when they began trading on Friday after an excellent response to its €3bn IPO, in which the leads gave nearly a third or investors zero allocations.
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Europe’s IPO market took a couple of knocks this week when one flotation was pulled and another traded sharply down on its debut, partly because investor sentiment has cooled. But there was still enough vigour in the market to ensure a successful conclusion to the €3bn re-privatisation of Allied Irish Banks (AIB), write John Loh and Jon Hay.
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Allied Irish Banks again tightened guidance on its London and Dublin IPO this evening, moving the lower and upper limits to €4.30 to €4.50 a share.
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Multi-tranche deals have been the issuance strategy of choice this week in the corporate bond market. Six of the seven issuers who have brought deals to the European markets in the first three days of this week have opted for such structures, and Reckitt Benckiser is expected to add its name to that list.
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Allied Irish Banks has narrowed the price range on its IPO, having attracted a strong response from investors. The flotation is now likely to raise €3.1bn at the upper end of the range.
