Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week
Americas
We start this eventful week with Jianpu’s NYSE IPO – reaching a market value of $3.42 billion. The company is offering 22.5 million ADSs, valued at $8. Jianpu is an online financial planning platform in China.
Meanwhile, on the debt side of things, TransCanada PipeLines has undertaken a $1.25 billion senior notes issue, including $700 million 2.125% notes due 2019 and the rest floating rate due 2019.
In the corporate space, Marvell Technology took over its rival, Cavium, in a $6 billion deal, as the business follows its target to expand its wireless sector.
Elsewhere, Talos Energy and Stone Energy have undertaken $2.5 billion merger procedures – a deal that enables Talos with a route to the stock exchanges. The newly formed firm is keeping further acquisitions in mind.
Moving on to financing matters, Johnson & Johnson has received $10 billion in refinancing less than a month after the company undertook a $4.5 billion debt offering.
The Toyota Motor Credit Corporation has also received $15 billion refinancing – consisting of: $5 billion one-year credit facility, $5 billion three-year credit facility and a $5 billion five-year credit facility. BNP Paribas has acted as an administrative agent on the deal.
Asia-Pacific
In China, Alibaba continues to develop its portfolio through the acquisition of a 36.16% stake in the Sun Art Retail Group for HK$22.4 billion from Ruentex. The move is part of a new strategic alliance in the country’s food retail sector between Alibaba, Ruentex and Auchan Retail, the latter of whom also increased its stake in Sun Art. Following the deal the three companies now respectively control 36.16%, 4.67% and 36.18% of the group.
Meanwhile in Indonesia, the Cirebon coal-fired power plant has received $1.74 billion in financing for its expansion from a syndicate of banks including: the Japan Bank for International Cooperation, the Export-Import Bank of Korea, The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, the Sumitomo Mitsui Banking Corporation and ING Bank.
In the capital markets space, HDFC Standard Life Insurance has undertaken an IPO on the NSE and the BSE. The Indian company has managed to raise $1.33 billion.
Europe, Middle East and Africa (EMEA)
Moving to France, Abertis subsidiary HIT has undertaken a €1 billion bond issue – with coupon rates aggregating to 0.625% and 1.625%. This was the lowest coupon of the firm’s issues. Proceeds will be used for debt refinancing and repurchasing of old bonds.
Finally, in Denmark, ATP has acquired a 50% stake in Danica’s shopping centre portfolio for DKr6.4 billion. The deal includes an interest in 16 shopping centers which will be managed by a joint venture established by the two pension funds.