Barclays
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Two borrowers, Marlink and Iris Software, offered a string of new medium sized leveraged loans this week, following the recent launch of some highly anticipated jumbo deals that sources say have helped renew investor interest in the European market.
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Barclays is working hard to expand its equity capital markets business in Northern Europe, in a bid to capitalise on what it expects to be a busy few years for the region.
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Spain, fresh from its success with a 10 year benchmark on Tuesday, is eyeing a return to the long end of the syndicated inflation linker market towards the end of the year.
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Barclays has hired from Bank of America Merrill Lynch and also promoted two others to lead the digitisation of its markets business.
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When 16 banks recently conducted a pilot study on how to analyse climate change risks on their balance sheets, they only published three case studies, and only one bank, Barclays, was willing to put its name to its study.
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Two euro borrowers launched benchmarks on Wednesday, sharing the SSA euro market. While both secured successful deals, one found the market tougher going, as investors pushed back.
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A pair of borrowers have hit screens for euro benchmarks to be sold during Tuesday’s session, but another nipped in ahead of the rush to price on Monday.
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Speciality chemicals maker Synthomer and hotel group Radisson Hospitality began roadshows for debut high yield bond offerings in the European market this week, undaunted by recent investor pushback. Meanwhile, Smurfit Kappa, the packaging group, added LBO funding to the high yield pipeline.
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The UK’s Synthomer plans to raise €600m through a revolving credit facility and privately placed notes, as the unrated chemicals company looks to refinance existing bank debt early.
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Barclays has named Steve Ewart chief financial officer for Barclays Bank plc, the group company that now houses the CIB division, Barclaycard, and the private bank and overseas services, subject to regulatory approval. The firm also named Steve Penketh COO for Barclays International earlier this year.
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The Loan Market Association has recruited a trio of loan market stalwarts to its board after its AGM this week. MUFG’s Mathias Noack has retained his place as chairman.