Jefferies LLC
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In the first instalment of our 2015 awards, we present the winners for Best Project Financing, Best Leveraged Financing, Best Investment Grade Loan and Best Loans House.
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Dometic, the Swedish maker of refrigerators and cookers for camper vans, traded up 15.42% on its first day as a public company on Wednesday, a strong aftermarket performance that recalled other Scandinavian IPOs this year.
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The leveraged finance market suffered an unpleasant shock this week, when $5.6bn of loans and bonds for the Carlyle Group’s acquisition of Veritas Software had to be pulled. Bankers were left blaming market sentiment, an aggressive structure — and each other, write Max Bower and Victor Jimenez.
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The weakness of the US leveraged finance market was brought home to market participants with a jolt on Tuesday, when the Carlyle Group, which is buying Veritas Technologies, a US data storage company, abandoned its attempt to raise $3.3bn of debt for the deal.
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Nomura has hired three managing directors within its emerging markets business — two from Barclays and one from Jefferies.
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Veritas Technologies, the Californian data storage company, has increased its high yield bond issue to make up for a disappointing loan financing. But initial price talk has yet to emerge.
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Shares in Softcat, the UK IT services and solutions provider, have risen 23% since the company's £153.4m IPO, as an initial 20% pop solidified into steady gains.
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McCarthy & Stone, the UK’s leading builder of retirement homes for sale, completed its IPO on Friday November 6, in a £336m deal that gave it an initial market capitalisation of £967m.
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Bank of Georgia completed the initial public offering of its healthcare subsidiary on Monday, as it successfully priced the deal, although at a price much below what it had hoped for.
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The IPO of Softcat, the UK IT infrastructure and services provider, is “oversubscribed and in good shape”, according to a banker on the deal. The London flotation was widely tipped to value the firm at £500m.
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McCarthy & Stone, the UK’s leading builder of retirement homes for sale, closed the book for its London IPO at 1pm on Thursday, saying orders below 180p a share were expected to miss.
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Veritas, the Californian data management company, has become the first US borrower to roadshow for a euro high yield bond in the second half of this year — and bankers say it will soon have company.