Deutsche Bank
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The loan backing the €5.8bn takeover of Versum Materials by German pharmaceutical firm Merck launched into syndication on Wednesday. Three banks are leading the financing. Versum is the former electronic materials division of Air Products & Chemicals, which was spun off in 2016. -
Denmark’s Bunker Holding has signed a multi tranche revolving credit facility totaling $1bn, as the shipping fuel and lubrication oils company prepares for a “paradigm shift” headed for its industry.
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US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m).
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Deutsche Bank and Commerzbank will have to sort themselves out without the help of each other, after merger talks collapsed this week. Speculation mounted as to whether Deutsche would now be forced to slash its investment banking operations, and about whether Commerzbank would be embraced by another European peer.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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After pushing out its yield curve to 30 years this week, Cyprus is keeping an eye open for issuing even longer maturities, according to an official at the country's Public Debt Management Office (PDMO).
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Dexia printed a £1bn trade on Thursday, showing that borrowers interested in sterling can still see success in the UK market if they can be nimble enough around headline risk.
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Chinese plastic surgery social network So-Young International hit the road for its Nasdaq listing this week, eyeing proceeds of up to $179.4m.
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Despite the roadshows crowding high yield bond markets this week, Netflix could not help but draw most attention from investors. Its $2.2bn-equivalent euro and dollar issue on Wednesday was increased and is said to have been three times covered. While the company has $10bn of capital market debt outstanding already, it owes more than $27bn long term to its content providers.
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Cyprus received strong investor demand for its longest ever bond on Wednesday, with the combined order book for the dual tranche trade topping €10bn at the final terms.
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The sterling market came alive this week, with three issuers raising their heads above the parapet after a few slow weeks in the currency.
