Commerzbank

Finedining Capital, a holding company owned by KKR, will launch a €615m loan to back its purchase of a 90.3% stake in German kitchenware producer WMF's preference shares.

British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.

Emirates NBD has announced a roadshow for a perpetual tier one bond. But the bond will not be structured with the aim of being Basel III complaint, which sparked debate among bankers on and off the deal.

BMW reopened the European benchmark investment grade corporate bond new issue market on Tuesday with a punchy €1.75bn deal that sent a strong signal: spreads — and especially yields — for corporate issuers are set for a very tight autumn. BMW paid a coupon of just 0.5% on its €1bn four year tranche. But despite these pitifully thin yields, investors are eager to buy.

BMW reopened the European benchmark investment grade corporate bond new issue market today with a punchy €1.75bn deal that proved one thing and suggested another. The market is fully open for business after the summer – that is certain. And the signs are that spreads – and especially yields – for corporate issuers are set for a very tight autumn.

Commerzbank Group on Thursday posted a pre-tax profit of €257m in the second quarter, up from €74m in the second quarter last year, and has exceeded its 2016 target for reducing the exposure at default in its non-core asset portfolio — helping to boost its share price by over 2.3% on the day.

The establishment of Frankfurt as the Eurozone’s first offshore clearing hub for renminbi trade settlement will be of huge benefit to European corporates trading with China, especially those in the small and medium sized enterprise (SME) sector, according to Frank-Oliver Wolf, global head of cash management and international business at Commerzbank.

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The European Financial Stability Facility, fresh from hitting the bid for short-dated bonds with a one year early this month, went to the other extreme and set out with a debut 30 year on Tuesday. With blow-out deals at the extreme ends of the curve it is proving itself to be a savvy issuer.

The European Financial Stability Facility this week sold its first 30 year syndication — becoming the first supranational this year to go so far out the curve with a benchmark. Despite the deal not hitting the 2.5% yield target for real money investors there was an optically large concession to the curve and demand topped €6bn.

Ink firm Hubergroup has signed a €250m three year refinancing facility split between a term loan and revolving credit facility.

Bank Rakyat Indonesia, which started sounding out lenders for a fresh fundraising in early May, has picked seven banks for a $370m loan, managing to increase it from the $300m it was originally targeting.