Deutsche Bank

Volvo joined the growing group of corporate issuers of hybrid capital on Wednesday, when it priced its first hybrid bonds. The deal was popular with investors, generating €7.4bn of orders.

Siemens Audiology Solutions has enjoyed early commitments and well attended bank meetings in New York and London to market its €1.06bn loan and bond package to lenders.

Investor sentiment appears to have turned against India credits if the fate of two deals this week is anything to go by. Having extended its bookbuilding period there is still no sign of the debut from Reliance Communications while Lodha Developers is also giving investors more time to consider its trade.

French supermarket group Groupe Casino priced a €650m ($514.37m) 10.2 year bond on Tuesday, its third issue of the year. But its credit spreads have widened a little since its last deal on July 30.

Spectrum Brands, the US consumer products conglomerate, is holding a lender call today for the €150m loan portion of a €400m-equivalent debt bundle that it will use for acquisitions and general corporate purposes.

Goldcar, the Spanish car hire provider, set price guidance for a €275m 5.5 year term loan ‘B’ at a bank meeting on Monday, to back its buyout by InvestIndustrial.

Deutsche Bank acted as sole bookrunner on an additional tier one deal from UK challenger bank Aldermore.

Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing has seen about 13 banks join with nearly $940m in commitments, said a banker. Allocations for the deal are due to be out soon.

Chinese property developers are making the most of the bullish sentiment following the recent post-rate cut to price dollar bonds.

The bookbuilding process for Reliance Communications’ (RComm) $255m bond has been extended until the end of December 2, according to bankers close to the trade.

Merck KGaA, the Darmstadt-based pharmaceutical company, has mandated banks for a hybrid bond issue, as part of the refinancing of loans for its $17bn (€13bn) acquisition of Sigma-Aldrich, the US life sciences and high tech materials group.

Altice made a firm step towards adding to its European telecoms portfolio on Sunday, when Brazilian telco Oi accepted a raised €7.4bn offer from the French company for the Portuguese assets of Portugal Telecom.