Barclays

Cineworld, Europe's second largest cinema operator, has increased the size of its revolving credit facility by £25m to fund its acquisition of five UK cinema sites.

One of the longest running and most painful sagas in global leveraged finance came to an end this week when high yield investors on Wednesday accepted Veritas Technologies’ €600m-equivalent secured seven year non-call three senior bond eight months after it was first launched. Victor Jimenez reports.

KfW tapped a A$2.1bn 4% January 2019 bond on Wednesday for A$200m ($154.4m), as KommuneKredit reopened a A$215m 2.9% November 2026 for A$25m.

Places for People, the UK housing company, on Wednesday sold £400m ($519.35m) of bonds with orders more than 2.5 times the offering size, despite tapping the market just two weeks after Moody’s cut its rating to A3.

Shell made a quick move from publishing earnings results to issuing a dual tranche bond on Wednesday, the euro market’s only investment grade corporate deal of the week.

BP Capital Markets slotted into August’s smooth run of corporate sterling bond issuance on Tuesday, as it issued a benchmark seven year transaction that was priced inside its euro curve.

Veritas Technologies on Tuesday began marketing a €580m-equivalent secured bond, the last leg of the debt package that supports its acquisition by private equity firm Carlyle — and that investors rejected in November 2015.

Vodafone continued to throw primary supply at European corporate bond markets on Friday, printing its third bond in two weeks as it issued a £1bn 40 year deal.

Barclays raised its first sterling senior debt from its holding company on Friday, taking advantage of a spread rally to round off a big push for holdco this week.

Pricing rather than size was the focus for public sector borrowers in the dollar market this week, although overly aggressive pricing was not the reason for one issuer having to pull back from bringing a tap issue.

France's Danone has completed syndication of $13.1bn of loans to fund the $12.5bn acquisition of North American organic food and drinks company White Wave. But there might not be many more jumbo deals this year, as political volatility looks set to hang over the M&A market for a little longer, writes Robert Cooke.

Barclays, Santander UK and UBS blitzed the US market on Wednesday in a series of trades aimed at boosting levels of total loss absorbing capacity (TLAC) eligible debt.