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IFR Americas ECM Pipeline
September 13, 2017 / 1:48 PM / 2 months ago

IFR Americas ECM Pipeline

Sept 13, 2017 - PRICED AGNC Investment (US, Mortgage REIT) – $510.8m Block. 24.5m shares (100% prim) at $20.85 versus $20.75-$20.95 marketing range and $21.50 last sale. CS, JPM, MS, UBS, WF. BioCryst Pharmaceuticals (US, biotech) – $80m FO. 15.5m (100% prim) at $5.15 versus $5.23 last sale and $5.75 launch JPM, BARC. Grupo Supervielle (Argentina, bank) – $412m FO. 20.6m ADS (68% prim, 32% sec) at $20.00 versus $20.56 last sale and $22.00 at launch. BAML, ITAU, JPM. Portola Pharmaceuticals (US, biotech) – $349.3m FO. 6.35m shares (100% prim) at $55.00 versus $56.96 last sale and $55.71 launch. MS, CITI, GS. Upsized from $300m. Tactile Systems Technology (US, med tech) – $108.9m ABB. 3.3m shares (100 % sec) at $33.00 versus $33.00-$33.50 marketing and $35.51 last sale. WMB, PJ. Upsized from 2.75m shares. Workday (US, HR SaaS) – $1bn 5y CB priced at 0.25%, up 37.5% versus talk of 0%–0.50%, up 35%–40%. MS, BAML. NEAR-TERM CALENDAR September 13: First Data Corp (US, payments provider) – $1.5bn FO. 85m shares (100% sec) versus $18.85 at launch. BAML, CITI, KKR. September 13: Social Capital Hedosophia (US, SPAC) – $500m IPO. 50m units (100% prim) at $10 each. CS. Each unit consists of one Class A shares and one-third of a warrant with each warrant exercisable at $11.50 a share. September 13: Tremont Mortgage Trust (US, Mortgage REIT) - $90m IPO. 4.5m shares (100% prim) at $20 fixed. UBS, CITI, RBC. Nasdaq “TRMT”. September 14: Azul (Brazil, airline) – $346m FO. 13.5m ADSs/40.6m preferred (100% sec) launched at $25.55/R$26.44. CITI, DB, ITAU. September 14: Fibra Hotel (Mexico, REIT) – MXP4bn ($225m) FO fixed-size. BBVA, EVER, GS, UBS, BANN. September 19: Best IPO-BSTI.O (Cayman Islands/China, logistics) – $931.5m IPO. 62.1m ADSs (86.3% prim, 13.7% sec) at $13-$15. CITI, CS, GS, JPM, DB. NYSE “BSTI”. September 19: (Argentina, online travel services) – $332m IPO. 12.77m (67% prim, 33% sec) marketed at $23-$26. MS, CITI, ITAU, UBS, COWN, KEY. NYSE “DESP”. September 19: Zai Lab (Cayman Islands/China, biotech) – $105.8m IPO. 5.9m ADS (100% prim) at $16-$18. JPM, CITI, LEER. Nasdaq “ZLAB”. September 20: Camil Alimentos (Brazil, food processing) – R$1.72bn IPO. 127.5m shares (32% prim, 68% sec) marketed at R$10.50-R$13.50. ITAU, BRAD, BAML, JPM, SANT. September 20: Oasis Midstream Partners (US, MLP) – $157.5m IPO. 7.5m ADS(100% prim)at $19-$21. MS, CITI, WF. NYSE “OMP”. September 21: Secoo (Cayman Islands/China, e-commerce) – $115m IPO. 8.5m ADS (100% prim) at $11.50-$13.50. JEFF. Nasdaq “SECO”. September 26: Grupo Financiero Galicia (Argentina, commercial bank) – $620.9m. 13.4m ADRs (100% prim) versus $47.60 filing. BAML, UBS. NEW FILINGS

Howard Midstream Partners (US, MLP) – $200m IPO. Terms TBD (prim/sec). BARC, RBC, TPH, BAML, CITI, MFUG, STRH, WF. NYSE "HMP". (The daily IFR US ECM Briefing covers US, Canadian and LatAM IPOs, secondary and convertible offerings. For trial info:; Reporting By Robert Sherwood)

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