Deutsche Bank
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German ball bearing producer Schaeffler has set price guidance on its €1.8bn-equivalent term loan ‘B’. -
State-owned Korea Water Resources Corporation has returned to the offshore market following a nine year absence, setting final guidance at 110bp over Treasuries for the 3.5 year bond.
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Merck & Co, the US pharmaceutical company, launched its first bond in euros for seven years today, just days after its €1.5bn deal from 2007 had matured. With markets recovering after a queasy time last week, the €2.5bn issue was widely seen as a success by rival bankers.
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German ball bearing producer Schaeffler has launched a €1.8bn-equivalent six year term loan ‘B’ to refinance debt raised earlier this year.
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Mobile phone maker Xiaomi’s $1bn dual tranche loan has netted commitments from seven lenders that made it in time for the loan’s early bird deadline in general. These banks will earn an early bird fee of 15bp for getting commitments in by October 6.
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Issuers of subordinated debt are likely to benefit from a wider range of investors in Swiss francs in the future. A Sfr525m deal from insurer Helvetia drew unprecedented institutional demand on Thursday, despite volatile trading conditions last week.
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Korea Exchange Bank (KEB) is looking to become the third Korean lender to tap the dollar market with a tier two bond, mandating four banks to handle the transaction.
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There's no end to Chinese companies seeking US listings, with eHi Car Services looking to raise $100m from an IPO on the New York Stock Exchange.
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The syndication of the $3.5bn bridge facility for Electrolux's acquisition of GE Appliances has closed oversubscribed, according to a banker at one of the leads.
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Atrium European Real Estate, an operator of shopping malls in central and eastern Europe, is meeting investors next week for a euro bond.
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Four issuers launched covered bonds from Germany, Sweden, Norway and Austria this week. The transactions were all well subscribed and priced tightly but the greatest degree of price tension was seen in deals that are expected to be eligible for the European Central Bank’s purchase programme.
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