April 24, 2020 / 5:23 PM / a month ago

IFR US ECM Weekly Wrap-up

NEW YORK, April 24 (IFR) - WEEKLY TOTAL $6.7bn – IPO $1.2bn – ABB/BLOCK $2bn – FOLLOW-ON $1bn – CB $2.5bn Monday

2U (US, online education) – $330m 5y cvt priced at 2.25%, up 27.5% versus talk of 2%-2.5% and 25%-30%. MS, GS, CITI, CS, JEFF. Upsized from $300m.

Agree Realty (US, REIT) – $369.6m ABB. 6.16m shares (100% prim) at $60.00 fixed price versus $62.29 last sale. CITI. AM pricing. Forward sale to Cohen Steers.

Darden Restaurants (US, restaurants) – $458m ABB. 7.83m shares (100% prim) at $58.50 versus $57.50-$58.50 marketing and $61.79 last sale. GS, BOFA. Upsized from $400m. 15% greenshoe exercised. Tuesday

Inphi (US, telecom equipment) – $440m 5y cvt priced at 0.75%, up 32.5% versus talk of 0.75%-1.25% and 27.5%-32.5%. MS, JPM. Upsized from $330m.

Social Capital Hedosophia III (US, SPAC) – $720m IPO. 72m units (100% prim) at $10.00. Each unit comprises one share and one-third of a redeemable warrant. CS. Upsized from $600m.

United Airlines (US, airlines) – $1.04bn Block. 39.25m shares (100% prim) at $26.50 versus $25.95-$26.50 marketing and $27.88 last sale. MS, BARC. Purchased at $25.805.

VBI Vaccines (US, biotech) – $50m ABB. 45.4m shares (100% prim) at $1.10 versus $1.10-$1.15 marketing and $1.56 last sale. RJ, OPP. Upsized from $40m. Wednesday

American Eagle Outfitters (US, retailer) – $400m 5y cvt priced at 3.75%, up 30% versus talk of 3.25%-3.75% and 32.5%-37.5%. BOFA, JPM.

Bluestone Resources (Canada, mining) – C$80m Block. 45.7m shares (100% prim) at C$1.75 versus C$1.82 last sale. CGEN.

Grocery Outlet (US, grocery chain) – $510m FO. 15m shares (100% sec) at $34.00 versus $35.15 last sale and $34.94 launch. MS, BOFA. Double-upsized from 10m shares and 12.5m shares.

Tradeweb (US, electronic exchange) – $560.8m FO. 11.2m shares (100% secondary) at $50.25 versus $51.25 last sale and $52.48 launch. JPM, BARC, CITI, GS, MS. Upsized from 10.95m shares. Thursday CC Neuberger Principal Holdings I (Cayman Islands/US, SPAC) – $360m IPO. 36m units (100% prim) at $10.00. Each unit comprised of one share and one-third warrant. GS, BOFA, UBS. Upsized from $300m.

EQT (US,E&P) – $440m 6y cvt priced at 1.75%, up 20% versus talk of 1.75%-2.25% and 17.5%-22.5%. JPM, CS, BARC. Upsized from $350m.

Oric Pharmaceuticals (US, biotech) – $120m IPO. 7.5m shares (100% prim) at $16.00 versus $14-$16 marketing. JPM, CITI, JEFF, GUGG. Double-upsized from 5m shares and 6.25m shares.

Snap (US, social media) – $850m 5y cvt priced at 0.25%, up 35% versus talk of 0.25%-0.75% and 32.5%-37.5%. GS, JPM, MS. Upsized from $750m. (Reporting by Robert Sherwood)

Nuestros Estándares:Los principios Thomson Reuters
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