Monday
February 28, 2022
Good evening,
Zip Co stole the show in deals on Monday, with its well-flagged acquisition of Sezzle and $200 million equity raising.
Credit to stockbrokers Bank of America and Jarden for taking on the underwriting risk – Zip deals are never for the faint-hearted and this one is taking place amid a war and pandemic.
The other big piece of deal news, also revealed by Street Talk, was BGH Capital’s increased offer for Virtus Health. Virtus, worth about $850 million, has to decide whether to grant it due diligence.
Tonight we have a look at AirTrunk, which has leapt on to initial public offering radars as a potential float.
We also have the flyer for CPPIB’s BAI Communications Australia, and news of a new $1.8 billion debt deal at Reliance Rail.
Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika SoodStreet Talk editors
One of the few surprises in Zip Co’s deal to acquire Sezzle and $200 million equity raising was buried deep in the adviser list.
The big investment banks are trying to reel in a big new fish for Australia’s initial public offering pipeline.
Bidders were told the auction’s first round would get underway in one month, and a second round in May.
Twelve banks tip into a new 21-year loan.
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