Deutsche Bank
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Citycon, the Finnish retail property owner and developer, priced a €350m 10 year bond on Monday. It had planned to issue €300m but the issue was oversubscribed and the company was able to increase and still price at the tight end of guidance.
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Monday was a soft day for equities and credit spreads, but BP had little if any hesitation in launching its second large euro bond of the year. The UK oil company’s deal was the eighth big dual tranche deal in euros since BMW set the fashion on August 26.
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CNH Industrial, the US-Italian maker of agricultural and construction machinery and trucks, issued price guidance on Monday for a new euro seven year benchmark bond.
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China’s Datang Telecom Technology & Industry has brought to market its debut international bond in the shape of a three year dim sum. Books were seen at Rmb2bn ($325m) on Monday afternoon.
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Korea’s Nonghyup Bank returned to the dollar market on Monday, opening books for a Reg S/144A five year issue. The target size of the bond is believed to be $500m.
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SAP has agreed to acquire Concur, the US travel and expenses software provider, for $8.3bn. To fund the deal, the German IT company has signed a €7bn credit facility and obtained its first credit rating.
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A trio of SSA borrowers squeezed into a narrow window of issuance this week to enjoy exceptionally strong conditions in dollars. Origination bankers will be beating at the doors of any funding officials that still have work to do this year to persuade them to mandate for next week and take advantage.
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After a summer of hand-wringing by investors over its high leverage, Bureau van Dijk has won out on its €845m loan, even managing to tighten the pricing on its euro tranche.
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A burst of M&A announcements early this week from Danish national phone carrier TDC, auto parts maker ZF Friedrichshafen in Germany and French telecoms firm Orange lifted the mood in the western European loans market. But Orange's financing plans, which include hybrid bonds, show that deals may not always lead to loan mandates.
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Alibaba Group’s mega IPO was always going to be a game changing deal. Nearly one year in the making, the $21.8bn listing has broken multiple records and put Chinese companies in the limelight. With its shares due to start trading on Friday, how the deal performs in secondary will affect equity markets far and wide, writes Rashmi Kumar.
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After a summer of hand-wringing by investors over its high leverage, Bureau van Dijk has won out on its €845m loan, even managing to tighten the pricing on its euro tranche.
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Indian state owned refiner Hindustan Petroleum Corp has opened a $300m financing into general syndication. An Indian lender has joined as MLA ahead of general launch, in addition to the five mandated lead arrangers and bookrunners,