Barclays
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Orange, the French telecoms company, showed the potential of the hybrid capital market for financing mergers and acquisitions today, when it raised €3bn towards its €3.4bn acquisition of Jazztel, just eight days after announcing the bid. Orange did not use a bridge loan for the deal.
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Japanese brewer Suntory Holdings’ chances of pricing its first dollar bond are looking good with books for a $1bn dual tranche offering already covered by Asian investors on the afternoon of September 24. -
Japan’s Suntory Holdings has mandated six banks for what would be the company’s inaugural dollar deal. The brewer and distiller is looking to make a dual tranche dollar issue.
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Coal distributor Earth Energy is looking to become the first Thai borrower to issuer an offshore renminbi bond and will be meeting investors in Asia this week for a proposed Reg S deal.
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Hana Bank has mandated six banks to work on the second US dollar denominated Basel III tier two bond from a South Korean lender with investor meetings scheduled to start on September 22.
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A trio of SSA borrowers squeezed into a narrow window of issuance this week to enjoy exceptionally strong conditions in dollars. Origination bankers will be beating at the doors of any funding officials that still have work to do this year to persuade them to mandate for next week and take advantage.
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UK equipment hire company Speedy Hire has signed a £180m asset-backed revolving credit facility, to replace a £220m facility signed three years ago and due to mature in August 2015. The margins and fees on the facility have been reduced across the board.
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Korea Western Power (Kowepo) made a solid return to the dollar market on Monday, pricing a five year bond that was nearly four times subscribed. Despite a soft start to the week, the quality of the credit and the strategy of capping the deal size at $300m proved a draw for investors.
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Reliance Industries’ telecom arm Reliance Jio Infocomm has picked a consortium of 15 banks to lead its $1.5bn refinancing.
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Diageo, the UK alcoholic drinks group, was named by research firm CreditSights last week as one of the European consumer goods companies most exposed to risk from the Scottish independence referendum.
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LVMH Moët Hennessy Louis Vuitton has a cachet in the bond market, as in its own field of luxury goods. An A+ rating is rare, and LVMH is an infrequent borrower. It can also rely on the enthusiastic support of French investors.
