BNP Paribas
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CGN Power has closed books a day earlier than scheduled after seeing massive oversubscription for its HK24.52bn ($3.16bn) IPO, with pricing now likely to be done overnight. -
The Spanish insurance company Mapfre is near to completion on a loan refinancing deal with 11 banks.
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Merck KGaA, the Darmstadt-based pharmaceutical company, has mandated banks for a hybrid bond issue, as part of the refinancing of loans for its $17bn (€13bn) acquisition of Sigma-Aldrich, the US life sciences and high tech materials group.
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The Angel Trains Group, a UK rolling stock leasing company, signed a refinancing loan totalling £1.16bn on Friday. The loan comprises £125m of junior bank debt and just over £1bn of senior bank debt.
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Bankers in the Schuldschein market are expecting up to another €1bn of issuance this year after United Internet brought a whopper €600m loan, alongside a run of other large deals in 2014 from issuers such as Fresenius, Axel Springer, B Braun and Fraport.
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RPC, a plastic packaging manufacturer in the UK, has refinanced a revolving credit facility to £490m as it looks to buy Icelandic competitor Promens.
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Didier Leblanc, head of loan syndication and trading, Asia Pacific, at BNP Paribas, will be leaving the bank in January, according to a source.
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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.
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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.
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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.
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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.
