Barclays

UK building materials producer Breedon is eyeing a move to main market of the London Stock Exchange after its £336m acquisition of competitor Hope Construction Materials.

Avago Technologies, the US semiconductor components maker, has increased the €500m tranche of its term loan ‘B’ to €900m on strong demand, another sign of the European leveraged loan market's competitiveness at the moment.

Bankers and investors on Wednesday said the failure of Veritas Technologies' $2.5bn bond deal — which was pulled along with an accompanying $3.3bn loan package on Tuesday — showed evidence of familiar weaknesses and errors in the European high yield market.

British American Tobacco has offered the sterling market its second long dated bond in as many days, a £350m 40 year tranche as part of a €1.1bn offering.

The order book for Russian Alfa Bank’s first senior unsecured bond in three years has reached $2.75bn, and guidance for the three year note has been crunched to 5.125% area.

The weakness of the US leveraged finance market was brought home to market participants with a jolt on Tuesday, when the Carlyle Group, which is buying Veritas Technologies, a US data storage company, abandoned its attempt to raise $3.3bn of debt for the deal.

Investor demand for Asian debt was put to the test this week when Singapore's Stats ChipPac executed the region’s first non-Chinese high yield bond in more than three months.

Mondelez International, the US snacks group that owns Cadbury and Oreo, satisfied its taste for long dated sterling debt on Tuesday, reaching far out along the curve to issue a £400m 20 year bond.

Barclays has named Mike Bagguley, its former head of macro, as the chief operating officer of its investment bank.

AP Moeller-Maersk, the Danish shipping conglomerate, has raised its first benchmark euro bond since issuing a profit warning in October, a €600m seven year trade.

Hiscox secured strong demand for its £250m 30 year non-call 10 tier two notes on Tuesday as sterling investors showed no signs of fatigue despite a recent spate of subordinated issuance from British insurers.

Asia’s debt market saw a busy Tuesday with a trio of issuers, SP PowerAssets, Stats ChipPac and TUS Holdings, venturing out for dollars.