Credit Suisse

Singapore sovereign investment arm Temasek Holdings executed a landmark transaction this week with its $1.1bn Astrea III securitization backed by cashflows generated by private equity funds. But despite the rarity of the deal and the difficulty in coming up with a price gauge, Temasek managed to expand the appeal of the product to a more diversified investor base, writes Rev Hui.

A $12.7bn Asia-focused loan for China National Chemical Corp’s acquisition of Swiss firm Syngenta is expected to enter the second phase of syndication as early as next week.

Ten banks participated on Wednesday in an auction to determine settlement prices for credit default swaps on Norske Skog, the Norwegian publishing paper manufacturer, after it triggered a restructuring credit event in April.

Investis Group, the Swiss residential property company, opened books for its IPO at lunchtime on Monday, hoping to raise Sfr150m to Sfr183m.

Enav, the Italian air traffic control system company, began its privatisation IPO on Monday, with the publication of research. Meanwhile, plans are taking shape for the IPO of Avio, the Italian space propulsion firm.

The €1bn IPO and highly dilutive capital increase of Veneto Banca is thought likely by bankers involved to be bought in its entirety by Fondo Atlante, as happened to the similar €1.5bn deal for Banca Popolare di Vicenza at the beginning of May.

Investors have a rare investment proposition on their hands with Singapore sovereign investment arm Temasek Holdings launching its $1.1bn Astrea III securitization on Friday, a transaction backed with cashflows generated by private equity funds.

Stadshypotek was lucky to raise €1bn of six year funding at 3bp over mid-swaps on Monday, a feat that leads said would not have been possible on Tuesday as markets deteriorated.

Reliance Big Entertainment US has approached the Asian syndicated loan market for a $100m deal, bringing a rarely seen film production name to lenders. While there are some concerns over its cash flows, the borrower is mitigating those fears with two credit enhancements. Shruti Chaturvedi reports.

US software firm Veritas allocated its leveraged buyout loan package this week, wrapping up a deal that has lasted over six months and coloured views of the leveraged finance market’s risk appetite.

As European leveraged finance markets skid towards next week's UK referendum on EU membership, French glass bottle maker Verallia this week combined bonds and loans to cut its debt costs and pay Apollo Global a dividend.

Reliance Big Entertainment US, part of India’s Reliance Anil Dhirubhai Ambani Group (Reliance ADAG), is tapping lenders for a $100m three year trade with one bank at the helm.