Deutsche Bank
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Two levfin issuers, Sebia and Refresco, this week added €3bn to an already large pipeline of euro and dollar-denominated leveraged loans being touted around a bustling European market. But some bankers are fretting that underwriters face little room for mistakes if pricing widens. -
The European high yield bond market returned from its summer break to €2.8bn of new bond offerings this week, including a sub-benchmark sized note from Delaware’s Kronos International on Monday.
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Praesidiad, a Belgian perimeter security company, launched the term loan for its acquisition by private equity firm Carlyle on Monday, in what was a busy week for the market. More than €2.5bn of loan deals have been launched in the past four days.
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Manulife US Real Estate Investment Trust is looking to raise $208m from a rights offering to finance its acquisition of an office building in New Jersey.
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India’s HT Global IT Solutions Holdings is returning to the dollar market for a tap of its debut notes sold last summer.
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China SCE Property Holdings scooped up HK$1.6bn ($204.5m) from an overnight block on Thursday that was timed to perfection, taking advantage of a share price rally to its highest point for the year.
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The European leveraged finance market is set to contend with loan deals approaching €4bn for the start of September. Over half of that is for the German pharmaceutical firm Stada — a deal that could help make funding more expensive for everyone else, writes Victor Jimenez.
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SSAs enjoyed soaring conditions in the sterling market this week after a summer lull, which bankers attributed to a big Gilt redemption and sterling’s weakening against other main currencies.
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A group of institutions working towards a distributed ledger solution for cash settlement has doubled in size, as six global investment banks came aboard this week.
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One of the sterling SSA market’s biggest names stormed back into the market after being conspicuously absent since January. European Investment Bank managed to pull its spread in by 2bp in its return to the market on Thursday.
