Europe

Tenaga Wind Ventures UK has signed a £120m loan facility arranged by BayernLB, as the UK renewable energy arm of Malaysian utility Tenaga Nasional looks to refinance the debt-powered acquisition of two companies.

AerCap Holdings, the Dutch aircraft leasing company, found big demand from lenders for its four year revolver, with the size of the facility rising by 46% to $950m during syndication.

Caisse Française de Financement Local (Caffil) plans to issue its first social covered bond this year and, along with La Banque Postable (LBP), it is considering a debut green deal in 2019. Deutsche Pfandbriefbank (PBB) has green assets to fund but is biding its time. These issuers and other key market participants spoke of their sustainable finance plans in the Crédit Agricole CIB covered bond roundtable.

French consulting company Capgemini wasted no time after the Easter break in announcing a new dual-tranche corporate bond issue on Tuesday. The benchmark tranches had 6.5 year and 10 year tenors and were announced alongside a tender offer, but the issuer had to pay a significant premium to its secondary curve.

Walt Disney has thrown Rupert Murdoch’s 21st Century Fox a lifeline in its battle to acquire the remaining shares of Sky it does not own by offering to buy Sky News, putting pressure on the £22.1bn debt-backed offer for the whole of Sky from rival bidder Comcast.

FIG bankers expect that primary market activity could be busy in early April, as borrowers look to navigate around blackout periods and public holidays later in the second quarter.

AT1 spreads may have been resilient this year amid heavy supply, but this could change if wider credit and equity markets continue to weaken.

Industrial conglomerate Melrose has received enough votes to acquire engineering group GKN, after weeks of increasingly strongly worded attacks from both boards and the intervention of the UK government.

Turk Eximbank has signed a €544m loan, above its launch amount of €300m, to refinance debt and support its business backing exporters.

Czech investment fund PPF Group has kicked off the syndication of a €3.025bn loan, which was used to fund the acquisition of Norwegian telecoms group Telenor’s central and eastern European operations.

Conviviality, the UK alcohol wholesaler that owns Bargain Booze and Wine Rack, plans to call in administrators after a £125m emergency capital increase failed to attract enough demand to keep the company afloat.

US beauty retailer Coty announced pricing at the wide end of guidance for its $2.45bn-equivalent of new leveraged loans on Thursday, while reaching the end of the roadshow for $2bn-equivalent of new high yield bonds.