Carnegie capital market transactions

  • The only Nordic bank in the SEK 13bn placing in Volvo on behalf of Renault
  • The only Nordic bank in the DKK 3bn secondary placing in TDC
  • Global co-ordinator and joint bookrunner in the Alliance Oil preference share issue of SEK1.35bn
  • Sole broker in the SEK 278m block trade in Cloetta on behalf of CVC/Nordic Capital
  • Sole adviser and bookrunner to Sagax in the SEK 376m directed preference share issue
  • Joint financial adviser and arranger in the SEK 1.25bn real estate bond issue in Svensk FastighetsFinansiering, a company owned jointly by Fabege and Peab
  • Sole adviser to Fingerprint Cards in the SEK 36m directed share issue
  • Sole bookrunner in the EUR 19m secondary placing in PKC Group on behalf of Platinum Equity
  • In addition, Carnegie has advised on four further ECM transactions

Carnegie has launched the following transactions during the fourth quarter:

  • Sole lead manager in the SEK 375m rights issue in KappAhl
  • Adviser to PA Resources in the SEK 1.7bn bond conversion and rights issue
  • Sole financial adviser in the Nordic Mines SEK 282m rights issue

 

CASE STUDY – Carnegie acted as global co-ordinator and joint bookrunner to Alliance Oil in the largest Nordic preference share offering

Alliance Oil Company Ltd is an independent oil and gas company with operations in Russia and Kazakhstan. The company operations include the Khabarovsk refinery, a network of gas stations as well as wholesale terminals located in the Russian Far East and has proven and probable reserves of approximately 760 million barrels of oil. 

Carnegie advised the company on the very first Russian international preference share issue, which attracted strong interest from the Swedish and international investor community.  As many as 4,500 investors and the Company shareholders were attracted to the offer, with solid demand received from institutional (two thirds) and retail investors (one third).  This demand was split roughly 50/50 between Swedish and international investors.

Carnegie had overall responsibility for transaction execution, leading and managing the road show activities and the book building process and initially performed a pre-sounding, with a number of different investors, to anchor the transaction ahead of the launch. This resulted in a 10-12% yield range.  The issue price for the new class of preference shares was set at SEK 270 per share.

A total of 5m preference shares will be issued in the share offering, indicating that Carnegie successfully generated demand in excess of USD 200m which stood for a large majority of the demand and allocation and double the initial target of USD 100m.

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