Active in 23 countries, the UK’s Tullow Oil is now targeting the African market, a policy which took a huge leap forward in January with its $1.5bn purchase of Heritage Oil’s Ugandan assets, the funds for which were raised by an accelerated bookbuild that was completed in just over a week.
The frenetic activity in equity capital markets last year, which included some huge rights issues, is gradually slowing, although recapitalisations in other struggling sectors such as real estate and automotives are expected to keep the momentum going, if at a more relaxed pace. Writer Edward Russell-Walling
In demand: Gazprom's headquarters in MoscowGazprom, one of the world's largest energy companies, has responded to its downgraded ratings with an ambitious issue of commercial paper in western Europe. The surprising outcome may have implications for years to come. Writer Edward Russell-Walling
The Goldman Sachs team: Ben Green, Sarika Singh, Elena Paitra, Rob Ritchie (standing) Martin Wiwen-NilssonSince the Lehman collapse, selling commercial mortgage-backed securities has not been considered a worthwhile venture. It took some innovative thinking by Goldman Sachs, on behalf of UK supermarket chain Tesco, to prove otherwise. Writer Edward Russell-Walling
Jean-Baptiste Pons, EADS head of corporate finance and treasuryIt is unusual to issue bonds in August, when many investors are on holiday. However, when European aerospace corporation EADS issued paper worth €1bn last month, common logic was defied in style. Writer Edward Russell-Walling
Left to right: Kapil Damani, Mark Gibson, Joshua Luks and Rishi NaikDespite the bottom falling out of the catastrophe bond market in 2008, the team at BNP Paribas devised a novel way for reinsurer Hannover Re to re-enter the market, with impressive results. Writer Edward Russell-Walling
On a high: Enel chief risk officer Claudio MachettiThe past 24 months have seen Italian energy provider Enel acquire Spanish counterpart Endesa, face threats of a credit downgrade from Standard & Poor's, and launch a successful €8bn rights issue, the largest ever by an Italian company. Writer Edward Russell-Walling
Left to right: Simon Parry-Wingfield and Ben BabcockHeidelbergCement has successfully restructured the debt accumulated from its Hanson acquisition with the help of Morgan Stanley, who were tasked with Europe's largest-ever stressed refinancing exercise. Writer Edward Russell-Walling