Barclays
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Synlab, the French clinical services provider, achieved tight pricing on Tuesday for its leveraged loan. That bodes well for a September deal pipeline that has swelled to over €5bn. But bankers cautioned small deals may still have to fight for investor attention against large offerings like Stada’s €2bn loan. -
Equiniti, the UK provider of payment and administration services, has unveiled the terms for its £122m rights issue, which is intended to partly finance its entry into the US market.
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Barclays announced on Tuesday that Lisa Francis, who had been head of European corporate FX sales, will become chief executive of the private bank for UK and Ireland.
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US chicken processor Pilgrim’s Pride Corp plans to fund its £1bn buyout of UK peer Moy Park with cash in hand, an extension of its term loans, and a new debt issue to repay a JBS subordinated note.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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A $575m loan for Twin Star Mauritius, an entity under mining giant Vedanta Resources, entered general syndication on Monday with five banks at the helm.
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Euro corporate bond issuance returned on Friday after a blank day due to Thursday’s European Central Bank meeting. As the ECB’s president, Mario Draghi, said nothing to unsettle markets, US machinery maker John Deere and Italian oil and gas company Eni both priced deals in euros before the weekend, while Sweden's Akelius Property did the same in sterling.
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Chinese state-owned Weichai Power Co priced a $775m senior perpetual bond on Thursday, enjoying a quiet day of issuance to bag a deal inside analysts’ fair value estimates.
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General syndication for Indian data analytics firm Mu Sigma’s debut loan is in its last leg, with three banks having committed so far.
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As the European Central Bank meeting suspended euro issuance on Thursday, British Land took the opportunity to grab UK investors’ attention with its first senior bond for 11 years. The £300m 12 year deal followed Tuesday’s £250m seven year transaction from Total, which had an order book of around £600m.
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On Tuesday, pharmaceutical firm GlaxoSmithKline returned to the corporate bond market for the first time since November 2014, and its rarity value contributed to combined order books of over €5.5bn for the triple tranche deal.
