Crédit Agricole
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State Bank of India has decided to increase the size of its loan to $420m from the original $300m, after 14 banks jumped on the transaction. But with a general launch still planned, it is likely to increase even further. -
Avis Budget took advantage of strong high yield demand on Thursday to make a rapid tap of its March 2021 bonds to refinance shorter dollar debt.
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Obrascón Huarte Lain, the Spanish construction and concessions group, pounced on a super-tight high yield market on Wednesday to issue a €300m bond, and found demand so strong that it was able to increase it to €400m. The final book was around €3.2bn.
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Belgium, KfW and the European Financial Stability Facility could be first in line with euro benchmarks after issuers largely avoided a tricky time this week that included German holidays, a European Central Bank rates decision and uncertainty over the stand-off between Ukraine and Russia.
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Credit Suisse drew in €3.3bn of demand for its €1.75bn five year deal, the biggest of 2014 as generous pricing and name recognition spurred demand. By contrast, La Caisse Centrale Desjardins du Quebec pulled in a relatively anaemic book €1.2bn for its inaugural legislative €1bn five year deal.
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Asian financial institutions will print a spate of deals in March as yield hunting investors scramble for their paper, according to MTN dealers.
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French veterinary vaccines maker Ceva Sante Animale will begin to market a €700m-equivalent refinancing term loan at bank meetings next week.
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Avis Budget took advantage of strong high yield demand to open books today for a tap of its 6% March 2021 bonds.
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Obrascón Huarte Lain, the Spanish construction and concessions group, pounced on a super-tight high yield market today to issue a €300m bond, and found demand so strong that it was able to increase it to €400m.
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Russian hydroelectric generator RusHydro has signed a brace of export credit agency-backed long term credit facilities totalling €190m.
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Kuwait's Zain Group has signed an $800m five year revolving credit facility less than a week after Commercial Bank of Qatar signed the first Middle Eastern loan this year.
