Europe
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Groupe Autodistribution, the French car parts distributor, began a roadshow on Monday for €237m of pay-if-you-can notes to fund its acquisition by Bain Capital. -
Skandinaviska Enskilda Banken (SEB) issued a €1bn seven year Swedish covered bond on Monday and attracted enough interest to tighten pricing, something that few issuers were able to do recently. However, even with double the concession DNB paid, the Swedish borrower attracted much less demand than the Norwegian one. SEB’s curve has been marked 2-3bp wider following the deal.
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Nestlé, the Swiss foods group, again nominated Citigroup as loan coordinator as it completed the refinancing of a revolving credit facility last week.
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Early-rising bankers have been basking in daylight since clocks were turned back an hour over the weekend.
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Banca Imi has hired Alberto Viarengo as head of debt markets.
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Read on to see how selected French agencies are progressing through their 2015 funding programmes.
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Tele Columbus, the German cable company that floated in January for €510m, has begun a four-for-five rights issue to raise €382.7m to finance two acquisitions.
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Poste Italiane, the Italian state-owned post office, priced its initial public offering in Milan on Friday, exactly at the middle of its original price range, to raise €3.058bn.
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GlobalCapital will open the poll on Monday October 26 to decide the winners of its Syndicated Loan, Leveraged Finance and Private Placement Awards 2016.
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In this round-up, the Swiss franc set to become directly convertible with RMB, CCB gets a Zurich branch, QDII2 could launching in Shanghai FTZ, booming RMB trade in Korea, Los Angeles tries to get the edge, DBS launches in Qingdao to leverage Belt and Road plans, and CSOP launches two new China ETFs in New York.
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The visit of president Xi Jinping to the UK this week has stirred much debate about the degree of kowtowing by British politicians and royals to the Chinese leader. But politics aside, the glut of new measures and transactions that accompanied the visit means the London RMB hub advanced in leaps and bounds.
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