Banks

Axilone, the beauty product packaging firm, has launched an add-on to its first lien term loan. The money will be used to refinance the second lien debt it took out in January 2018, to part-fund its buyout by Citic Capital.

The European Financial Stability Facility and Council of Europe Development Bank left little on the table with their euro bond issues on Wednesday. More supply is expected, as three more borrowers have picked banks for deals expected this week.

Swedish Export Credit joined the growing ranks of public sector issuers that have priced bonds though its curve this week when it printed a $1bn 2021 bond with a negative premium.

The Inter-American Development Bank closed the books on a £500m tap of its December 2023 bonds on Wednesday, finding success in a sterling market that bankers away from the deal said requires pinpoint timing from borrowers.

JP Morgan has created a new unit within its global equity derivatives division focused on insurance structuring – an area that the US bank sees as a key component of the growth of its equities franchise.

Foreign & Colonial (F&C) Investment Trust has sold a £150m equivalent US private placement, in euros and sterling, to a range of institutional investors from the UK and United States.

Antoine Broquereau has been appointed as head of global markets UK at Société Générale. He has been tasked with concentrating particularly on equity derivatives and structured products, at a time when the bank has been considering how to streamline its global markets activities.

Citi and KBC Group led the way on Wednesday in what was a very busy day for new bond supply from financial institutions, with issuers taking advantage of stellar market conditions to raise funding ahead of reporting their first quarter earnings.

First Abu Dhabi Bank printed a rare three year floating rate note on Tuesday inside its fixed rate curve. Investors flocked to the deal as a “risk-free” way to park cash, according to a syndicate official on the deal.

UniCredit has appointed two co-heads of global financing and advisory, effective immediately.

ECM investors continue to support Russian deals and flooded into a Rub5.8bn ($89m) block in LSR Group, the Russian real estate development company, in what was the latest sell-down by one of the country’s oligarchs.

A €170m bridge facility for Spain’s Coronation Holdco Renovables has received the highest ranking from S&P Global’s green evaluation overview.