Europe
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A $12.7bn jumbo Asia-focussed loan to back China National Chemical Corp’s acquisition of Syngenta is “pretty much done”, with several lenders that joined the preceding European syndication reappearing, according to a source close to the situation. -
Cobham, the UK aerospace and machine technology maker, has priced its debt-cutting £506.7m rights issue, announced in April, at a heavy discount of 45.4% to Tuesday's closing share price.
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The UK Financial Conduct Authority’s criticisms of the “restrictive contractual clauses” in banking mandates has prompted a vigorous defence from the industry, citing corporate broking, acquisition finance, and advisory as areas where clients benefit from restrictions on which banks they choose.
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Gordon Dadds, a law and professional services firm, will begin offering a derivative documentation managed service as part of a newly launched consultancy business.
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French car hire firm Europcar Group on Tuesday sold a €125m tap of its 2022 bond in a high yield market that is longing for more single-B issuance.
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Defence systems group Meggitt has completed a $600m private placement with a group of 23 investors from the US.
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Ahlstrom, the Finnish fibre based materials manufacturer, has extended the maturity of its €180m credit facility with the approval of all of its lending banks.
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Three Russian corporates are looking to hammer out deals in the wake of the sovereign’s return to the bond market last week. All are refining their debt profiles with a combined buyback and new offer.
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PKN Orlen was on track to print a seven year dollar bond with books over €1.5bn at guidance on Wednesday.
