Subway Borrows $3.35 Billion in Biggest Securitization of Its Kind

Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record. The sandwich maker priced the largest portion of its whole business securitization — where a company pledges … Read more

Nestle India firms up plans to launch NESPRESSO

Nestle has announced to launch it’s premium offering NESPRESSO in India by the end of 2024. The range will be available in both original and professional systems, to serve domestic and professional consumers. The first NESPRESSO boutique is intended to be opened in Delhi, before expanding to other key cities. It will also be sold … Read more

BAT pares its stake in ITC

British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more

BAT planning to reduce stake in ITC

British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more

Promoter funds continue to sell from Sapphire Foods

Promoters (funds) owned 41.69% of Sapphire Foods at at September 30, 2023. This was almost 10% lower than 51.26% they held post IPO in November 2021. Two promoter entities have now further sold 5.9%  stake in the restaurant operator for Rs 530 crore through open market transactions. Earlier this month, another promoter entity had offloaded … Read more