Europe
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Deutsche Bahn made the most of an otherwise empty corporate bond market on Wednesday, increasing its latest floating rate note from €300m to €400m, making the deal its largest eight year FRN. -
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French investment company Wendel bought a €300m no-grow trade to an uncertain, but stabilising, corporate bond market on Monday.
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Beset by dire predictions and gloomy warnings from all sides as to the future of emerging markets, CEEMEA borrowers decided to ignore the melodrama and produce the second biggest week for issuance of the entire year.
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Hellman & Friedman is acquiring a majority stake in the Swedish company Securitas Direct with a €2.7bn financing package involving bonds and loans — but market sentiment remains downhearted.
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TDF Infrastructure, the French broadcasting infrastructure operator, gave investors something to get their teeth into on Thursday, bringing a €600m bond to a recovering but uneasy corporate bond market.
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Banks on Tuesday settled credit default swaps referencing the Republic of Ukraine at 80.625, the highest recovery on a sovereign credit event auction since they began in 2005.
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Eastern Europe is generally viewed by credit investors as one of the safer segments of the increasingly shaky emerging markets asset class. But the aggressive presence of Russia poses risks, as its neighbours know all too well.
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The French bank has been cutting bankers in its M&A business, marking a shift from growth to profits, writes David Rothnie.
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Hrvatska Elektroprivreda (Hep) picked banks for a dollar bond and kicked off an exchange offer on its 2017 notes on Wednesday.
