Deutsche Bank
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A loan that had been in syndication since April from Hyva Global has been turned into a smaller club deal, but some lenders said weak sales in China prompted them to stay away. -
Europcar, the French car rental company, priced its initial public offering at €12.25 on Thursday night, for a total deal size of €879m. Its shares traded down slightly on Friday, their first day in the markets.
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German cosmetics firm Douglas Holding, which is being acquired by CVC Partners from Advent International, sold €635m of high yield bonds on Friday after cutting their size for a second time.
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Korea Gas Corp (KoGas) mandated six banks as the company gears up for a benchmark sized return to the dollar bond market next month.
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CVC Partners on Thursday reduced to below €1bn its high yield offering to fund the acquisition of German cosmetics retailer Douglas Holding — yet investors dismissed the cut as a sign of an increasingly ‘closed for business’ market.
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Douglas Holding, the German perfume retailer, has become the third leveraged finance borrower this week to feel the lash of investors' anxiety about Greece, as it widened pricing on its €1.22bn loan.
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Financial institutions will be forced to pay sky high premiums to print tier two before the summer, as they balance regulatory demands for more loss absorbing capital against an unfriendly primary market, writes Tom Porter.
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Europcar, the French car rental company, is set to price its €800m initial public offering at €12.25 a share, a good result in the face of a market stressed by the Greek debt crisis.
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Kennedy Wilson Europe Real Estate issued £300m of seven year bonds on Wednesday, dividing market opinion. Some bankers said the deal looked cheap and poorly supported.
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ArcelorMittal met with a warm welcome from retail investors on its first outing in the Swiss franc market on Thursday.
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The competition in the investment grade loan market this week was merciless, as Santander was announced as the third and final lender in IAG’s €1.4bn loan to buy Aer Lingus.
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Deutsche Wohnen, the German property company, mandated banks on Thursday for a roadshow to market the possible sale of its first non-convertible bonds.
