Barclays
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The €6bn debt funding for AkzoNobel Specialty Chemicals’ buyout has some lawyers, bookrunners and investors in the European leveraged finance markets agonising over what they describe as an exercise in private equity firms flexing their muscles. -
New York seemed set to avoid Hurricane Florence but US investors whipped up a storm of their own as they poured cash into a succession of big ticket deals from blue-chip domestic and Yankee names.
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The African Development Bank and Bank Nederlandse Gemeenten kept the positive momentum going in the dollar SSA market this week with blowout five year benchmark trades on Thursday.
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In their different ways, Bank of America Merrill Lynch, Nomura and Barclays have come to define the successes and challenges that have shaped banking in the past decade.
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Barclays was looking to sell two tranches of callable senior debt in the yen market this week, following a similar total loss-absorbing capacity (TLAC) eligible offering from HSBC in Japan.
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Bain Capital has completed the first sale of shares in TI Fluid Systems, the UK maker of fluid delivery systems for cars and trucks, since its IPO last autumn. The deal came in response to several reverse inquiries from investors.
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The African Development Bank is taking indications of interest for its second benchmark of the year, which could complete its syndicated funding programme for 2018.
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UK legal finance firm Vannin Capital plans to go public in the autumn, having filed an intention to float document in London on Monday.
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The deal flow of high yield bonds kept rising in euros and sterling this week. Four new issuers joined the already heavy pipeline, including a euro bond from UK premium car manufacturer Jaguar Land Rover.
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Gas asset and infrastructure investment consortium Quadgas made its debut in the sterling corporate bond market on Monday with a £350m 11 year offering. The company had previously raised funds from the US private placement market, but this was its first benchmark public deal.
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Swiss flavours and fragrance manufacturer Givaudan is a regular user of the Swiss franc corporate bond market, but sold its first euro deal this week to help refinance the funding of its €1.25bn acquisition of French natural ingredients supplier Naturex.
