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Structured Bonds

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  • High yield bond bankers and investors expect the European market to grow further next year — in size and likely also in aggressiveness — after this year's record deal output of €76bn so far.
  • OSX, the shipbuilding, oil equipment and services arm of Eike Batista’s crumbling Brazilian EBX conglomerate, filed for bankruptcy with a Rio de Janeiro court on Monday, following sister company OGX’s identical move on October 30.
  • Albéa Beauty’s planned PIK toggle deal has been postponed. The $150m transaction to finance a dividend to its shareholders led by Sun Capital Partners was announced last week and was expected to be priced on November 6.
  • Ista International, the German metering company, had received enough commitments from existing and new investors by Wednesday to achieve its debt repricing.
  • Numéricable, the French cable firm, has launched its first term loan since completing its long-awaited IPO earlier this month.
  • Fresenius, the German healthcare company, marketed on Monday its new €1.2bn loan package in Frankfurt, after setting margin and original issue discount guidance on the term loan ‘B’ tranche late last week.