Barclays

British Telecommunications has declined to confirm press reports that it is planning a £2bn rights issue as part of its financing for the £12.5bn takeover of EE, the UK mobile phone group. However, the market barely flinched at the news, suggesting a deal, if it comes, will not be a challenge.

British Telecommunications has declined to confirm press reports that it is planning a £2bn rights issue as part of its financing for the £12.5bn takeover of EE, the UK mobile phone group. However, the market barely flinched at the news, suggesting a deal, if it comes, will not be a challenge.

The Bank of England’s Prudential Regulatory Authority released the results of its latest round of stress tests this week, revealing that of the eight largest UK banks and building societies only the Co-operative Bank had ran afoul of its adverse scenario. Bankers and analysts have taken the results as a sign that the UK’s financial system is robust, though some have warned that future stress tests may become trickier to navigate.

KfW has sold a rare, privately placed note with a step-up inverse floating rate structure, which dealers said could be a sign of other similar trades to come.

UK based bio-pharmaceutical company Shire signed a $2.1bn loan last week. The five year loan has two one-year extension options and comprises multi-currency revolving and swingline facilities.

Terna — Vattenfall — Gamesa

KfW has sold a rare privately placed note that carries a step up inverse floating rate structure.

Dalian Wanda Commercial Properties is expected to price its IPO near the top of guidance to raise HK$28.8bn ($3.7bn) for Hong Kong’s largest listing this year.

Terna, the Italian electricity transmission system operator, signed a €750m credit facility last week. And more activity is expected soon in the Italian corporate loan market.

Gamesa, the Spanish wind turbine manufacturer, has signed a €750m syndicated revolver with a single bullet repayment in December 2019. The banks are the same as those on Gamesa’s loan signed in March, except for Bankia, which is no longer participating.

Swedish power company Vattenfall has signed a €2bn five year revolving credit facility with 15 banks, with strong support from its banking syndicate.

Fiat Chrysler Automobiles raised $3.46bn on Wednesday, when it priced its $2.5bn mandatory convertible bond and $957m share offering, designed to strengthen its balance sheet and gain a new investor base in the US.