Barclays
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Nep Group, a US producer of broadcast programmes, gave price talk below 400bp for all first lien loans in the financing for its buyout by Carlyle, a further sign that margins have tightened in the leveraged loan market. -
Barclays had hired an equity capital markets banker from Goldman Sachs to expand its corporate broking team.
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The first two major IPOs of the autumn, Funding Circle and SIG Combibloc, have both stayed above water in trading.
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US healthcare company Abbott Laboratories debuted in the European corporate bond market on Monday, selling a €3.42bn triple-tranche deal. The proceeds of the jumbo deal were to repay the issuer’s outstanding deals in dollars.
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Corporate dollar bond issuance ended a bumper month with a whimper as borrowers fought shy either side of the Fed’s September meeting.
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French electricity utility EDF continued a busy September with the first hybrid corporate bond deal in the euro market for more than two months on Tuesday. It also sold a new senior trade in euros, following a $3.75bn triple tranche deal in the US the previous week.
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The UK’s Helical has signed a £150m deal from UK banks, bringing the property developer’s revolving credit lines into one facility.
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French certification agency Bureau Veritas had its credentials stamped by investors on Thursday when it sold its third deal in three years. The unrated issuer received €1bn of demand for its €500m long six year deal.
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TD Securities has hired a FIG banker from Barclays into a new job in its European origination team
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Unédic drew large demand for its first 10 year euro benchmark of the year on Wednesday, allowing the issuer to considerably tighten its spread through pricing.
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The chair of the influential UK Treasury select committee, Nicky Morgan, told a conference of derivatives bankers, lawyers and regulators, that despite the threat of “serious problems” for cross-border derivatives contracts in a Brexit no-deal scenario, she was “reasonably confident that a no deal scenario will not cause the whole sector to fall over”.
