Banks

Goldman Sachs has launched syndication of the acquisition financing supporting TPG and Beaver-Visitec International’s purchase of PhysIOL Group, with a €450m seven year senior secured first lien on offer.

SEB issued a seven year covered bond last week 9bp tighter than where DNB Boligkreditt was able to print at the start of this year, showing just how far spreads have rallied. Even though the market is still well supported, investors could soon become reluctant to chase the market even tighter.

Ireland’s Greencore has signed what it says is the country’s first corporate sustainable revolving credit facility, as other companies that have shifted their bank funding to green start to see tangible financial benefits.

Sweden’s Loomis has signed a €150m five year deal, as the cash handling firm looked to switch the headline currency on its syndicated revolving bank facility.

Karel Naphausen, formerly head of the capital markets and treasury team in Rabobank’s legal department, is leaving the sector in order to focus on being a DJ and producing house music.

NordLB said at the weekend that it had welcomed an offer of an equity injection from the German association of savings banks (DSGV) and the State of Lower Saxony, as it looks to restore its capital position to above its minimum requirements.

Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside of the oil and gas sectors, has kicked off the year with a $6.5bn term loan facility, as market conditions remain “borrower friendly”.

Goldman Sachs has held off from rewarding some retired executives compensation until “more information is available” on the 1Malaysia Development Berhad scandal.

After National Grid’s 16 year sterling corporate bond deal was more than six times oversubscribed on Tuesday and BMW found huge demand for a €3bn euro deal on Thursday, Volkswagen Financial Services tested the sterling market on Friday and found demand just as strong.

Deutsche Bank’s weak set of results on Friday were driven by losses in its corporate and investment bank, notably in fixed income and currencies trading, but bank chiefs suggested the CIB performance was set to improve. The bank, subject to rumours about a merger with Commerzbank, also made sure to state that it had more than enough capacity to pay additional tier one coupons.

Barclays has made two hires in its FX trading and distribution team. This included appointing another FX specialist who used to work for Deutsche Bank.

Hong Kong’s Towngas has priced a rare dollar perpetual bond, taking $300m from a deal that saw investors pump in more than $4bn in orders.