Olivetti issue may target Europe

Article Abstract:

Olivetti S.p.A. is considering a $15 billion bond issue denominated in euros, with only a few shares available to US investors. The issue would be the biggest bond offering in history, and would not have been possible before the euro's advent. The bonds would make up 28% of the Telecom Italia purchase price, assuming Olivetti's $58 billion takeover bid is successful. The deal would be underwritten by Chase Manhattan, Donaldson Lufkin and Jenrette, Lehman Brothers, and Mediobanca.

Comment:

Olivetti S.p.A. considers $15 bil bond issue denominated in euros and marketed mostly to European investors

Computer and Office Equipment, Office & Computing Machines, Office equipment, Office equipment and supplies industry, Office equipment industry, Abstract, Olivetti S.p.A.

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Euro issue drives asset-backed market

Article Abstract:

Ahaus Alstatter Einsenbahn Cargo AG, a rail-car-leasing company based in Switzerland, helped boost the asset-backed bond market in Europe by raising 255 million euros in Eurobonds backed by receivables. The issue was the first secularization denominated in the common European currency. Ahaus Alstatter will use the money raised from the issue to upgrade its aging rail-car fleet, which has been operating for 25 years and is not expected to last for more than five years.

Comment:

Helps boost the asset-backed bond market in Europe by raising 255 mil euros in Eurobonds backed by receivables

Switzerland, Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing, Railroad Car Leasing & Repair, Article, Ahaus Alstatter Einsenbahn Cargo AG

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Italy's SCIP issues 2.3 billion euros bond backed by properties

Article Abstract:

Societa di Cartolarizzazione degli Immobili Pubblici (SCIP) has issued a mortgage-supported bond worth 2.3 billion euros. The bond issue was the dominant offering on the Eurobond market.

Pension, health, and welfare funds, Employee Benefits Management Svcs, Third Party Administration of Insurance and Pension Funds, Bonds, Bonds (Securities), Social security, Employee benefits management services, Societa di Cartolarizzazione Degli Immobiol Pubblici

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