Commerzbank
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RPC Group, the UK plastic bottle manufacturer, has amended its £770m revolving credit facility agreement to include a £70m facility, which will part fund its acquisition of British Polythene Industries. -
The Luxembourg-based producer of roof products, Braas Monier, proved there is still strong investor demand for double-B rated paper in the high yield market as it tightened pricing from guidance on Wednesday.
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German housing company Vonovia on Monday demonstrated that issuer friendly deals were still available without having the European Central Bank as a buyer, printing a €1bn dual tranche bond with satisfying concessions.
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Air Liquide began the first stage of refinancing a €12bn bridge loan backing its acquisition of US competitor Airgas by issuing a €3bn five tranche bond on Monday.
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Turkish banks Halkbank and Turkiye Sinai Kalkinma Bankasi are refinancing one year loans and offering a premium to lenders committing in dollars.
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Veneto Banca’s IPO bookbuild will begin on June 8, but hopes of it achieving its flotation in Milan are dim. “At the bottom of the price range, there are cheaper Italian banks,” said one banker on the deal, encapsulating the problem.
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Banca Popolare di Milano and Banco Sabadell issued covered bonds which, despite their negligible new issue concessions, met with exceptionally strong demand.
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After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.
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KfW became the first supranational or agency to sell a euro-denominated five year benchmark with a negative yield on Tuesday.
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A $725m loan for Indonesia Eximbank has hit general syndication, two months after the borrower picked the mandated lead arrangers and bookrunners.
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DBS Bank in Singapore this week issued its first deal in Australian dollars, the first covered bond from an Asian lender and the first benchmark sized Kangaroo covered bond of the year.
