Commerzbank

German cosmetics firm Douglas Holding, which is being acquired by CVC Partners from Advent International, sold €635m of high yield bonds on Friday after cutting their size for a second time.

CVC Partners on Thursday reduced to below €1bn its high yield offering to fund the acquisition of German cosmetics retailer Douglas Holding — yet investors dismissed the cut as a sign of an increasingly ‘closed for business’ market.

Sunrise Medical, a German wheelchair maker, is holding a bank meeting on Friday to market a €315m acquisition loan. Like many leveraged finance borrowers this year, it has pre-placed the second lien.

Turkey has opened the gates for its second stream of annual bank refinancings, just as the year’s first wave is ending, with Akbank back in the market for a loan.

African Export-Import Bank is on course to wrap up its two year loan this week, said bankers, and is likely to go bigger than its original $700m.

Sunrise Medical, a German wheelchair maker, will hold a bank meeting on Friday to market a €315m acquisition loan. Like many leveraged finance borrowers this year, it has preplaced the second lien.

CVC Partners on Tuesday offered a €1bn two tranche bond, which will fund its acquisition of German cosmetics retailer Douglas Holding from Advent International.

Commerzbank has added to its credit trading capabilities in London by hiring an experienced structured credit specialist.

A 10bp new issue premium was not enough for HSH Nordbank to attract a fully subscribed book for a €500m seven year Pfandbrief issued on Monday. Though it was cheap to the curve, the deal was much more expensive than other higher rated, shorter dated agency debt offered at the same time.

The Loan Market Association has added four new board members, as its membership has just surpassed 600 organisations.

British Airways is refinancing $1.25bn of credit facilities in a deal that is separate from the €1.4bn loan its parent company, International Airlines Group, is using to buy Aer Lingus.

Skandinaviska Enskilda Banken (SEB) and Swedish Covered Bond Corp (SCBC) issued covered bonds of almost identical credit standing this week, but with very different outcomes.