BNP Paribas
-
RPC, a plastic packaging manufacturer in the UK, has refinanced a revolving credit facility to £490m as it looks to buy Icelandic competitor Promens. -
Didier Leblanc, head of loan syndication and trading, Asia Pacific, at BNP Paribas, will be leaving the bank in January, according to a source.
-
Telefónica, the Spanish broadband and mobile phone company, issued an €850m hybrid bond on Thursday. The perpetual non-call five year deal was priced just 3bp outside the issuer’s curve, according to one banker, a good omen for hybrids being roadshowed by Volvo and Santos.
-
Swedish pharmaceutical company Meda has completed the early bird syndication of its Skr28bn (€3.03bn) loan to buy Rottapharm Madaus, according to a banker at one of the leads.
-
Urenco, the UK-based uranium enrichment company, priced a €500m bond on Monday. Investors had concerns about the nuclear power sector, particularly as French nuclear reactor builder Areva is facing financial difficulties. But Urenco appeared to have addressed their worries, as the bond was twice subscribed.
-
-
Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday.
-
Spanish travel systems company Amadeus IT Holding priced a €400m three year bond on Tuesday. Demand was strong, with the no-grow transaction nearly six times oversubscribed.
-
Korea East-West Power Co (EWP) provided a strong end to what has been a mixed year for Korean credits, selling a $500m 5.5 year bond on November 24. Investors thronged to the quasi-sovereign, which benefits from favourable government policies, at one point helping the order book reach eight times subscribed.
-
Italian gas distributor 2i Rete Gas issued a €540m long five year bond on Friday, to rebalance the proportion of bank loans and capital markets instruments in its debt profile.
-
Eneco, the Dutch gas, electricity and heating producer and supplier, issued a €500m hybrid bond last Friday. Demand for the perpetual non-call seven year issue was strong, despite competing issuance, volatility on Thursday and uncertainty around a Dutch unbundling law that could affect the sector.
-
CGN Power is on track to be Hong Kong’s biggest IPO in 2014 as investors jostled for a piece of China’s largest nuclear energy producer, with institutional books already multiple times subscribed on day one of bookbuilding.
