Banks

Holders of Inmarsat’s 6.5% 2024 high yield notes are recommended to take profits, as the board of the UK-listed satellite company recommended an LBO offer from a consortium of investors. Barclays, Bank of America, and UBS are arranging a $3.625bn term loan and a $600m-equivalent multicurrency revolver to fund the deal.

Land Berlin saw orderbooks swell to around four times the size of its €500m no-grow trade on Tuesday, with leads saying the 15 year maturity is the sweet spot to attract bank treasuries.

Raiffeisen Bank International has launched a digital platform for Schuldschein and loan transactions, called Yellowe.

Abegg Holding, the Swiss family office for Annina Müller‐Bodmer, gave the market an extremely rare liquidity event on Monday night by selling its entire stake in Huber + Suhner, the Swiss maker of fibre optic cables, for Sfr152m ($153m) following a prolonged share price rally.

Strabag has signed bank facilities totalling €2.4bn, the Austrian construction and technology firm becoming the latest borrower to refinance early amid cheap funding conditions.

Deutsche Börse has run an amend and extend operation on a €750m loan to add a sustainable element to its debt, as some lenders continue to rail against the proliferation of what they see as refinancing in all but fees.

A FIG specialist at Deutsche Bank has been put at risk of losing his job, GlobalCapital understands.

The Government of Sharjah has launched its $1bn seven year sukuk with books for the deal in excess of $4.3bn. A banker on the deal put the new issue premium paid at 0bp-5bp and said that 'this was the result we were aiming for', given that this is the first deal from the Emirate printed with eligibility for the JP Morgan emerging market bond indices.

Mersen, a French technology manufacturer, will not accept bids from UK-based lenders for its new Schuldschein “in anticipation of a potential Brexit”. Three bankers away from the transaction said they have also discussed excluding UK lenders with other borrowers.

After six months running the Uzbekistan’s newly created debt management office, ex-HSBC DCM banker Odilbek Isakov has become the country's deputy finance minister.

ABN Amro is looking for a branch licence for its US business, GlobalCapital understands, which the Dutch bank believes would allow it to be more efficient from an operational point of view.

Indonesia Eximbank is sending out a covenant waiver request for a $1.15bn loan it sealed last year, as the policy bank's non-performing loan (NPL) ratio rose higher than the covenant allows.