Europe
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Mathias Noack, who oversees syndicated loans at UniCredit, will become head of syndicated loans at BTMU in London. UniCredit is looking for Noack’s replacement. -
The number of active covered bond borrowers looks set to hit a new record after Moody’s assigned its top rating to the hard bullet mortgage covered bond programme of Austria’s Raiffeisenlandesbank Oberoesterreich (RFLBOB).
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ICBC Luxembourg became the Chinese lender’s fourth overseas unit to issue a fixed rate dollar bond this year, raising $800m from a three year offering.
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Electronic broker Icap launched the first offshore renminbi (CNH) FX benchmark based on market trading, the first said on July 7. The new fix, which is priced at the open of European markets, aims to fill the gap between Asian trading sessions.
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Obvion’s €1bn Purple Storm Dutch RMBS deal, which sold the entire capital stack, shows that despite the growth of whole loan portfolio sales, there is still interest in using securitization as a capital relief tool.
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UK real estate companies are facing a rough ride in loan markets after the country’s decision to leave the EU on June 23. But the rest of Britain’s borrowers have escaped paying a Brexit premium thus far, write Elly Whittaker and Robert Cooke.
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Nyrstar, the Belgian zinc and lead company that completed a €291m rights issue in February, launched a €115m-€150m convertible bond on Wednesday.
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Hollywood Bowl, the UK’s largest 10 pin bowling alley operator, has postponed its plan for a London IPO in July as a result of market uncertainty surrounding Brexit.
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Tikehau Capital, the French asset manager that specialises in private debt, has raised €510m of new share capital, including from Temasek and the Peugeot family, as it targets opportunities outside Europe.
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Adler Real Estate, a German residential property company, has extended the sale period for its €150m convertible bond issue, which comes with pre-emption rights for shareholders, added Citigroup as a bookrunner and broadened the price range.
