BNP Paribas
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Swiss cement maker Holcim is in a stand-off with its relationship banks over whether it can receive negative interest payments on its Swiss franc revolving credit facility, amid deeply negative interest rates, writes Elly Whittaker. -
As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were sold on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.
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As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were sold on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.
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Eircom, the Irish telecoms company, held an investor call on Tuesday for a €2bn amend-and-extend process on its loans that will bring documentation into line with market standards.
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Colgate-Palmolive took advantage of strong demand for floating rate notes on Thursday to price a €500m four year FRN, arguably inside where it could have issued a fixed rate bond.
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Halkbank - ArcelorMittal - Yapi Kredi - Xella - Nordic Cinema
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Det Norske Oljeselskap, the Norwegian oil exploration company, has obtained a $500m revolving credit facility from seven banks and is considering issuing bonds.
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Investors maintained discipline on Wednesday when Ford Credit Europe Bank issued a €500m five year bond, with some dropping out of the deal after moderate pricing revisions.
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As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were in the market on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.
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German airline Deutsche Lufthansa has held an investor call for its postponed hybrid capital bond issue, after making a €133m operating loss in the first quarter of 2015, smaller than a year ago.
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Steel company ArcelorMittal has refinanced a $6bn revolving credit facility, with heavy oversubscription.
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Xella, the German building materials manufacturer, has closed books on a €533m refinancing and amend-and-extend loan procedure that was oversubscribed, allowing for price cuts.
