Barclays

German motorway services company Tank & Rast has cut 50bp from the margins of all tranches of a €1.45bn loan, seven months after the deal was signed.

Sandvik, the Swedish tool maker, issued a rare public euro bond on Wednesday and achieved its aims, raising €350m of 12 year funding at only a slight premium.

The European Financial Stability Facility enjoyed ideal market conditions to print long three year debt this week, with the order book swelling to over twice subscribed despite the issuer offering only the skinniest of new issue premiums.

Covered bonds maintained primary market momentum this week, but issuers adopted very different pricing strategies and delivered contrasting outcomes. The degree of hesitancy that had been evident in the run up to last week’s European Central Bank meeting disappeared with a robust bid returning for higher yielding bonds. In contrast, low beta deals that offered a negligible spread were only just subscribed.

Alstom Auxiliary Components has widened price guidance on the first lien tranche of its €630m-equivalent leveraged loan facility by up to 75bp.

Cinven has announced its takeover of the telecoms branch of Spanish gas utilities group Gas Natural Fenosa, as the private equity firm seeks to maintain its presence in a sector which has brought it some of its best returns.

A bevy of SSA issuers was able to print dollar benchmarks at tight levels this week, crystallising strong performances seen since the start of the year.

This week's European corporate bond issuance continued to pick up the pace on Thursday, as four deals came to the mainstream euro and sterling markets, plus an Austrian retail-targeted issue for Novomatic, which makes gambling machines.

High profile euro deals from Asia are shining a light on opportunities for the region’s issuers in the European market. An evolving investor base, enormous supply/demand imbalances and conducive policies from the ECB all point to a rise in euro denominated deals, both out of Asia and globally, write Virginia Furness and Isabella Zhong.

Kookmin Bank will be meeting investors during the next two weeks for a proposed international bond.

Solar panel manufacturer Trina Solar successfully raised a combined $247m by pricing a concurrent placement and convertible bond offering on June 6, despite a turbulent market backdrop as Chinese solar companies were slapped with new import taxes by the US.

Sandvik and Sixt both launched sub-benchmark bonds today, after Sandvik had roadshowed on Monday and Tuesday and Sixt had held a conference call with investors on Tuesday morning.