Germany
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Germany’s Scout24 has signed bank facilities totalling €1bn, with the digital marketplace operator shedding millions off the interest payments owed under the bank funding being replaced. -
Germany’s Emsland Group has signed a €150m five year bank facility, with the food processing company using the same bank group as its last loan outing.
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BlackRock has closed its first private debt fund dedicated to the European middle market, as the asset manager predicts private debt will be increasingly "significant" in the way mid-cap companies are financed.
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German banks could be slow to get going with issuing preferred senior debt despite the fact that they are regaining access to the tool from next week. Issuers will have to get to a hold on how pricing for the new notes will compare with other asset classes.
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Jonathan Bock, who previously held the role of managing director and senior equity analyst at Wells Fargo, will become a managing director on Barings’ global private finance platform.
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The Schuldschein market is back to its active self with over 20 borrowers marketing deals. This is sweet vindication for arrangers, who’ve had to deal with concerns after borrowers Steinhoff and Carillion fell from grace at the end of 2017 and start of 2018.
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The State of North Rhine-Westphalia’s decision to tap into a glut of long end euro demand won the praise of BondMarker voters, as it fell just short of an average score of 8.0.
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Société d’Infrastructure Gazières, a holding company jointly owned by CNP Assurances and Caisse des Dépôts whose sole asset is a 24.91% minority stake in natural gas network GRTgaz, has issued a €586.4m Euro PP bond.
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Deutsche Bank’s additional tier ones soared in value by about three cash points at the beginning of the week, after the firm surprised investors by saying that it was expecting to make a strong profit for the second quarter of 2018.
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Investor appetite remains strong for longer dated euro SSA bonds, encouraging the likes of EFSF and KfW to tap the long-end of the curve this week. But the question is: will the demand last, and for how long?
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