Barclays
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Reliance Industries tapped the dollar bond market for the second time in two weeks, raising $750m from a 30 year bond on February 3. Even though it was not by design, having the deal come at a later stage proved to be a masterstroke as Reliance was able to achieve some top notch pricing.
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The Export-Import Bank of India (India Exim) launched a 5.5 year US dollar offering on February 4. The quasi-sovereign credit attracted such strong demand from investors that the regular issuer barely paid new issue premium despite a competitive backdrop.
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Wizz Air, the Hungarian budget airline, has announced its intention to float in London, seven months after its previous, failed IPO.
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The European high yield market on Tuesday keenly accepted the first triple-C rated deals of the year: a buyout financing bond from Swiss carton maker SIG Combibloc and a refinancing issue for Norske Skog, the paper company.
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Esmalglass, a Spanish producer of ceramic glazes and inkjet inks, is seeking a €250m loan to refinance acquisition debt.
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Fadi Attia left Barclays this week where was on emerging market syndicate based in New York. He had been at Barclays for four years.
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Reliance Industries tapped the dollar bond market for the second time in two weeks, raising $750m from a 30 year bond on February 3. Even though it was not by design, having the deal come at a later stage proved to be a masterstroke as Reliance was able to achieve some top notch pricing.
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Chinese technology giant Tencent has decided to go ahead with a Reg S/144A transaction while it was in the middle of non-deal roadshow after it wasencouraged by strong feedback from US investors and the recent robust trading sessions.
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The Export-Import Bank of India is continuing its tradition of tapping the dollar debt market once a year, opening books to a 5.5 year transaction on February 4.
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Investors shrugged off concerns about contagion to other eurozone countries from Greece’s stand-off with its creditors on Tuesday, as they flooded into Ireland’s first ever 30 year syndication. Greek yields also screamed lower during the day after its finance minister hinted that the country’s new government might not pursue a debt write-down, while fellow bail-out recipient Cyprus returned to bill auctions.
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SIG Combibloc has followed Altice's recent example by demonstrating the European market’s keen appetite for large leveraged M&A deals. SIG has tightened pricing on the loans in its €2.8bn deal and replaced some of the deal's bonds with loans.
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German rented housing company Deutsche Annington has syndicated a €6.25bn bridge loan for its takeover of Luxembourg-based rival Gagfah. It is the largest real estate facility since 2008, according to Dealogic, but DA may only need a fraction of the facility.