Europe
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The tug of war over the Spanish renewable energy company Abengoa ended on Thursday, with the founding family caving in to at least some of its banks' demands, in return for their underwriting a €650m capital increase. -
Standard & Poor’s has joined Fitch in putting Volkswagen on CreditWatch negative, although the company has won some respite in secondary bond markets.
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Market conditions were far from conducive this week, but that didn’t stop nine issuers from raising a collective €7bn, which in several cases was done in spectacular style.
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Municipality Finance scored a series of firsts on Thursday with an instrument that is typically the preserve of the bank market — setting a path that leads on the deal believe others could follow.
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The Ukrainian government has released the exchange offer for its sovereign Eurobonds, amended from what was previously announced.
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Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.
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Volkswagen credit spreads more than tripled this week and other European automotive names moved sharply wider but some traders and strategists called it a knee-jerk reaction that is likely to be corrected soon.
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The European private placement market will grow faster than the syndicated loan market, according to up to 900 people polled at the Loan Market Association’s annual conference in London on Thursday.
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Commodity trade finance for Russian firms remains strong, despite sanctions and falling commodity prices, according to bankers at the Loan Market Association's annual conference on Thursday.
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HVB, the German subsidiary of UniCredit, returned to the covered bond market for the third time this year to issue a €500m five year mortgage backed Pfandbrief which, despite offering a double digit new issue premium, was only slightly oversubscribed.
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Chorus Clean Energy, the German solar and wind power plant operator, on Thursday returned to market with the same IPO it had pulled in July, but with new arguments to sell it.
