Credit Suisse
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German rented housing company Deutsche Annington has syndicated a €6.25bn bridge loan for its takeover of Luxembourg-based rival Gagfah. It is the largest real estate facility since 2008, according to Dealogic, but DA may only need a fraction of the facility.
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HDFC Bank’s Rp100bn ($1.62bn) share sale looks poised to be a roaring success even though the deal has yet to formally launch, with bankers on the trade saying they already have enough visibility to take the book to multiple times covered.
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India played host to one of its largest ever ECM transactions last Friday when Coal India completed a Rp226.13bn ($3.68bn) divestment of the government’s stake in a deal that has been two years in the making. Bankers lauded the trade and believe it will keep the momentum going for several more share sales to hit the market before India ends its fiscal year in March.
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India’s HDFC Bank could launch a Rp100bn ($1.62bn) share sale soon to bolster its capital position once it secures all the regulatory approvals.
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Altice on January 30 achieved a successful sale for its €4.8bn-equivalent bond package backing its takeover of Portugal Telecom.
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The Modi administration launched its up to Rp226.13bn ($3.68bn) offer for sale of shares in Coal India on Friday, a mammoth trade which could be one of India’s biggest yet.
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Corporate bond supply returned to the Swiss market this week as a trio of domestic firms, including debut crossover credit Hirslanden, took advantage of the negative interest rate environment to lock in ultra-low yields.
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Solenis, the US chemicals producer, has closed books on an €85m six year term loan that backs its acquisition of Clearwater Specialties, increasing the facility by €10m.
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Wittur, the German lift components producer, set price guidance for its €285m ($322.23m) acquisition loan at a London bank meeting on Monday, a day before its new private equity owner, Bain Capital, added TI Automotive to its portfolio.
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OVS, the Italian clothing retailer, has begun investor education for an IPO, which could involve about €350m of new shares being issued, as well as a smaller amount of secondary stock. They could add up to as much as 49% of the stock being listed.
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Bond investors are hoping for a flood of US supply in the coming weeks as companies emerge from earnings blackout following a disappointing start to the year.
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Syndication for Dutch grain trader Nidera’s $800m revolving credit facility will close on February 17, according to a banker on the deal.