Crédit Agricole
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French catering, support and care services group Sodexo has amended and extended $1.3bn of credit facilities, but previous bookrunner Credit Agricole has left the syndicate. -
Caisse Française de Financement Local struck a defiant note on behalf of the covered bond market in the face of the Greek crisis on Thursday by printing the first euro deal from a European issuer in three weeks.
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A public sector borrower eked out €500m of tightly priced euro supply on Tuesday, as activity in the currency was subdued while market participants digested the latest news on Greece’s bail-out negotiations.
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Public sector borrowers are snapping up opportunities in the medium term note market, as Greece’s bail-out negotiations and imminent US non-farm payroll data stifle syndicated supply.
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Fiat Chrysler Automobiles has completed syndication of a €5bn revolving credit facility, in the company's first loan refinancing since Fiat Group Automobiles merged with Chrysler last year.
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Touax Rail Ltd — the Irish subsidiary of French container leasing firm Touax Group — has refinanced a €55m syndicated credit facility. The parent company had to pull a high yield bond issue because of weak demand in March.
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Export-Import Bank of Korea (Kexim) completed its return to dollars in style this week, selling a SEC registered dual tranche deal that drew over $2bn of demand. Amid a high level of volatility due to concerns over Greece, bankers chose a good window for the Korean policy bank, which was able to meet its size and pricing goals.
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A trio of investment grade names launched new deals on Tuesday as Asian bond bankers were bolstered by hopes that Greece's latest budget proposals would stave off a debt default and lead to a deal with creditors later this week. But they believe the market is still volatile and as a result only strong high grade names will be able to get deals done.
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Mercuria Energy Trading, the Swiss commodities trading group, has increased its revolving credit facility during syndication, but still kept it smaller than the $2.65bn it signed last year.
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Export-Import Bank of Korea (Kexim) has mandated seven banks to work on its return to the dollar bond market which could be as early as this week.
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The European FIG market witnessed panic selling in peripheral paper this week, with some bankers predicting a similar haves and have-nots market to that which prevailed at the height of the sovereign debt crisis, writes Virginia Furness.
