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KKR to buy Internet Brands for $1.1 bln - NY Times
2014-06-03 20:47:44| Telecom - Topix.net
Private equity firm KKR & Co LP has agreed to buy website operator Internet Brands Inc from Hellman & Friedman and JMI Equity for $1.1 billion in a bid to help the company expand its services, the New York Times reported citing people familiar with the matter.
Alcatel-Lucent to raise EUR 1 bln in convertible bonds issue
2014-06-02 09:06:00| Telecompaper Headlines
(Telecompaper) Alcatel-Lucent announced an offering of EUR 1 billion in convertible bonds. Part of its ongoing restructuring efforts known as the Shift Plan, the offering includes EUR 600 million of bonds due 30 January 2019 and EUR 400 million maturing on 30 January 2020. The bookrunners have an option to increase the issues by up to 10 percent. The proceeds will be used to pay off USD 1.75 billion on the company's senior secured credit facility in the US, which should extend the group's debt profile and reduce the amount of interest due. The bonds will be issued at a premium to Alcatel's share price, at 35-40 percent for the 2019 bonds and 32-37 percent for the 2020 bobds. They will pay little to no interest and be convertible one-to-one in Alcatel shares. They will be listed in Paris.
Com Hem to raise SEK 5.5 bln in IPO
2014-05-23 09:19:00| Telecompaper Headlines
(Telecompaper) Swedish cable operator Com Hem announced plans to list on the stock exchange in Stockholm and raise up to SEK 5.5 billion. The initial public offering will be mainly new shares, as well as some sold by its controlling shareholder BC Partners. The proceeds will be used to reduce debt and provide additional financial flexibility. Com Hem aims to reduce its net debt to 4.15 times adjusted EBITDA by mid-2014 and 3.5-4.0 times over the medium term. Com Hem is the largest cable operator in Sweden with approximately 1.83 million or 39 percent of Swedish homes connected. It claims second place on the country's broadband market and offers download speeds of up 500 Mbps across almost all its network. Since late 2013, it also offers the Tivo box to customers and recently acquired the B2B operator Phonera Foretag.
JD.com raises USD 1.8 bln in IPO
2014-05-22 09:22:00| Telecompaper Headlines
(Telecompaper) Chinese e-commerce group JD.com raised in total USD 1.78 billion from its initial public offering of shares on the Nasdaq market in the US. The 93.7 million American Depositary Shares, each representing two Class A ordinary shares of the company, was priced at USD 19 per ADS, higher than the earlier indicated range of USD 16-18. The ADS will begin trading on 22 May. JD.com sold 69 million new shares, and existing shareholders sold 24.7 million. The underwriters have been granted a 30-day option to purchase up to an additional 14 million ADS from JD.com. JD.com will receive initial proceeds of USD 1.31 billion from its share of the offering. The company is also raising USD 1.31 billion from the issue of another 138 million Class A shares to Tencent at the IPO price.
Teva launching 3 drugs in 2014 with combined peak sales of $1 bln
2014-05-21 12:15:10| Biotech - Topix.net
Teva Pharmaceutical Industries is launching three new products in 2014 with combined estimated peak sales of $1 billion, the chief executive of the world's biggest generic drugmaker said on Tuesday.
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