Europe

French asset manager Tikehau Capital has completed its first syndicated loan, drawing support from eight banks, following a run of equity and debt raisings.

Italian real estate company Beni Stabili signed a €710m facility on Thursday backed by its key Telecom Italia assets.

Thom Europe, the French jewellery retailer owned by private equity firm Bridgepoint, sold a €190m tap of its 2019s to fund the acquisition of Stroili Group, an Italian peer.

The IMF’s approval of a long-awaited disbursement of funds to Ukraine could help set the stage for an unguaranteed sovereign bond issue, local bankers said on Thursday.

Ineos-owned styrene manufacturer Styrolution tightened guidance on its €1.1bn refinancing on Thursday while altering the structure of the deal, in a market dominated by refinancings.

Global Ports became the first issuer to test demand for Russian assets for more than two months on Thursday with the release of pricing for a new seven year dollar deal.

Russia’s EuroChem will sign a five year loan imminently. The refinancing sees the fertiliser producer aiming for tighter margins than its last post-sanctions loan, said two bankers close to the deal.

Winsconsin’s Spectrum Brands, the consumer products conglomerate ended a two day roadshow on Wednesday with the sale of euro notes that will repay dollar bonds, an uncommon transaction in the euro market.

UK supermarket chain WM Morrison Supermarkets, better known as Morrison’s, has triggered an extension option on its £1.35bn revolving credit facility.

The Bank of Italy announced it would soften application of the capital conservation buffer (CCB) in line with most other European countries, but the move is not expected to relieve any pressure on additional tier one coupon payments.

Biffa, the UK waste management company, has announced its intention to float on the London Stock Exchange.

Lithuania was on track to print a tightly priced reopening of its 2035s on Thursday morning with bankers estimating a 4bp–13bp premium at initial price thoughts.