Equity capital markets bankers are fearful for the rest of the autumn IPO season after two deals in London left a sour taste in the mouth. The usual “it’s deal-specific” mantra is being repeated by syndicate bankers desperate not to taint their own pipelines by association, but not everyone sounds convinced.
Peer-to-peer lender Funding Circle was the smaller of the two offers, at around £440 million before the greenshoe. Global coordinators were Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley.
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