Barclays
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The financing for the €1bn acquisition of roofing business Imerys Toiture to Lone Star Funds was revised this week to include a subordinated debt tranche, as levfin investors still active in August pocket riskier but higher yielding paper. -
Housing Development Finance Corporation has launched a $750m loan into general syndication, after attracting one extra bank at the senior level.
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Daniel Aharoni has started at Barclays as a managing director in its telecoms, media and technology team for Europe and the Middle East (EME).
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Eskom, the South African state-run power company, has said it could print its dollar bond as early as tomorrow and has confirmed that it will sell both standalone and government-guaranteed tranches. Investors have a wide range of views on fair value.
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There was a time, not so very long ago, that Barclays and Deutsche Bank seemed to be plunging down the same path together. Fixed income flow monsters both, the two firms unveiled superficially similar revamps in 2014 and 2015, driven by the same structural imperatives. In the last year though, the pair couldn’t have been more different.
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A pair of taps from the Council of Europe Development Bank (CEB) and KfW on Tuesday — ahead of the Bank of England’s expected rate rise later this week — ensured the non-UK sterling SSA market remains on track for a record year of issuance.
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South African state-run power company Eskom is aiming to print a total of $1.5bn and is expecting to sell both guaranteed and unguaranteed tranches of its bond, according to two sources close to the deal.
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Gansu Provincial Highway Aviation Tourism Investment Group, a Chinese local government financing vehicle (LGFV), secured a $350m bond on Thursday, proving that not all LGFVs are locked out of the dollar market.
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Public sector borrowers could beat the summer slumber if they bring dollar deals, said SSA bankers — and they may be rewarded for doing so, with conditions unlikely to be able to get better than this week’s.
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Sterling issuance from public sector borrowers outside the UK is still on course for a record year — helped in no small part by a supranational printing its largest ever syndication in the currency this week.
