Deutsche Bank

Deutsche Bank and HSBC are co-ordinating the loans for British American Tobacco’s acquisition of a 57.8% stake in Reynolds American.

National Australia Bank issued a rarely seen five year sterling denominated covered bond and showed a path that others may follow. It also sold a seven year senior deal in euros.

Asia’s equity capital markets recovered quickly in the wake of Donald Trump winning the White House, with most of the indices regaining their losses in Thursday’s trading. Primary issuance also took off, with some keen issuers pulling the trigger on their IPOs. Jonathan Breen reports.

Datang Environment Industry Group Co has bagged HK$2.0bn ($257.9m) after sealing its second attempt at an IPO.

Investors had the opportunity to buy an additional tier one offering from a Chinese city commercial bank for the first time last week, with Huishang Bank Corp selling its debut dollar-denominated bond.

Shares in Phoenix Group Holdings, the UK buyer of closed life insurance books, have gained 1.9% since the company announced on Wednesday the successful completion of its £735m rights offer to finance its takeover of Abbey Life.

A subsidiary of Malaysian telecommunications company Axiata Group, which approached the loan market for $100m in June, is overhauling and increasing the financing to $400m to fund potential acquisitions.

Indonesian television broadcaster MNC Sky Vision has cut its latest fundraising to $170m — the second time it has reduced the deal size. The loan, which had been in general syndication since late June, attracted three commitments from retail lenders.

Finnish packaging firm Powerflute has extended the deadline on its €400m leveraged buyout by Madison Dearborn to this Friday, as has BMI Healthcare for its £285m refinancing.

Syndication for the refinancing of $1.235bn of loans for commodity trader Gunvor has closed, with lenders making “significantly oversubscribed” commitments, while competitor Trafigura faces a €2bn maturity this month.

Nine banks have been mandated to arrange the financing for the leveraged buyout of Polish online marketplace Allegro, and a senior loan will be launched into syndication later this month.

Europe’s largest laboratory services company, Synlab, on Friday shot a new bond into the European high yield market deal to repay all of its 2022 floating rate notes.