Romania
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Globalworth Real Estate Investments, the Aim-listed real estate investment trust focused on central and eastern Europe, plans to raise around €300m of fresh equity, and is preparing to move to the main market of the London Stock Exchange in 2018.
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Digi Communications’ Hungarian subsidiary signed a €200m bridge loan on Friday to finance its acquisition of compatriot communications company Invitel Tavkozlesi, a subsidiary of Invitel group. The lead banks have launched the syndication and held a bank meeting on Tuesday. -
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Romania reopened its 2.375% April 2027s on Tuesday for €1bn, pricing the tap 12bp inside initial price thoughts that were described as “very attractive”.
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Romania reopened its 2.375% April 2027s on Tuesday for a further €1bn, pricing the tap 12bp inside the “very attractive” initial price thoughts.
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Romania-focussed Globalworth Real Estate Investments drew support from a variety of investors for its debut bond, which included a large cornerstone order from a financial institution, to price a €550m deal at 3% on Monday.
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Globalworth Real Estate Investments, a fund which focuses on Romania, was out on Monday with guidance for its debut five year benchmark after a roadshow prolonged by European holidays.
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Romania-focused Globalworth Real Estate Investment is due to meet investors for a potential euro denominated trade, in a period of narrow issuance windows due to a spate of public holidays.
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Shares in Digi Communications, the recently listed Romanian telecoms and media group, closed below its IPO price on Thursday, after it confirmed on Wednesday that its CEO Serghei Bulgac had been included in a bribery and money laundering investigation that had already involved two senior executives and a former CEO.
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Digi Communications, the fast-growing Romanian telecoms and media group, has successfully completed a €190m IPO, the first from the country this year, despite being hit during the bookbuild by news that some of its senior executives were being investigated for bribery and money laundering, and the fact that voting rights remain controlled by the founder.
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A fresh IPO launch broke the quiet in the pre-Easter European equity capital market this week: and a very unusual one — the first Romanian flotation of the year. Digi Communications, a leading telecoms and media group, wants to float 25% of its equity in Bucharest.
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Stellar funding conditions in emerging markets enabled Romania to print 10 and 18 year debt at record low yields on Monday.
