Thursday 22 April 1999
INDEPENDENT NEWS and Media (Finance), a wholly owned subsidiary of Independent Newspapers, owners of The Independent, yesterday became the first Irish company to raise money on the newly developed Eurobond market denominated in euros. INMF is raising 200m euros (pounds 131.9m) by issuing a 10- year bond repayable in May 2009 with an annual interest coupon of 5.75 per cent and priced to yield about 5.8 per cent initially.
Over two-thirds of the issue has been placed with a broad spread of European investors and the balance has been taken up by Irish investors, James Parkinson, finance director, said yesterday. It is also the largest debt issue to be lead-managed by an Irish securities house, Davy Stockbrokers. Independent Newspapers shares were up 1.5p at 307.5p on the day.
Gold won't rise
THE PRICE of gold will not rise this year, according to Philip Klapwijk, the managing director of Gold Fields Mineral Services, the independent London-based research agency. Economic growth and inflation are both expected to be very low and both are traditionally bad for gold prices. Only a stock market slump could spark investment demand, he said.
Howle makes bid
INDUSTRIAL CUTTING tools maker Howle Holdings has launched a pounds 6.3m hostile bid for rival Brooke Industrial Holdings. The offer is made on the basis of three new Howle shares, valued at 27.5p, for each Brooke share at 82.5p. Brook shares closed up 12p at 82p, but analysts felt the bid had some way to run yet.
Airbus $1.5bn sale
AIRBUS INDUSTRIE has won a $1.5bn (pounds 930m) order from the latest low-cost US airline, New Air. The New-York based carrier has decided to launch its service with a fleet of 25 Airbus A320 aircraft and has taken options and purchase rights on a further 50 jets.
Wickes sales up
SALES OF DIY equipment at Wickes ran 5.5 per cent ahead of last year in the first 15 weeks of the current year, compared with a forecast growth roughly in line with inflation, the chairman Michael von Brentano told the annual meeting yesterday. There are signs consumers are recovering confidence from the low point at the end of last year, the chairman said. The shares rose 9p to 359p.
- 1 Benedict Cumberbatch says Hollywood is better for black British actors: 'I think as far as coloured actors go it gets really difficult in the UK'
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
- 4 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 5 Warriors in ancient Iraq suffered Post-Traumatic Stress Disorder more than 3,000 years ago, say researchers
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Warriors in ancient Iraq suffered Post-Traumatic Stress Disorder more than 3,000 years ago, say researchers
US blames Russia after rocket attacks in Ukraine kill at least 30
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
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