Germany
-
Buwog, the Austro-German residential property company, added to the recent reemergence of convertible bond issuance on Tuesday, with the sale of a €300m deal, while the Belgian real estate investment trust Cofinimmo also came to market with a €230m deal to buy back bonds due in 2018. -
Bayer and Monsanto have moved a step closer to agreeing a multi-billion dollar merger as Bayer confirmed that the two are in advanced discussions. A takeover would include the largest loan of the year of about $65bn.
-
FMS Wertmanagement’s Jens Remmers is taking on a new position within the German agency’s group, becoming treasurer of Depfa Bank.
-
The covered bond market was in good shape on Tuesday but it was in good shape this time last year too. With core covered bond valuations still out of sync with other asset classes, bankers warn that the market has become complacent and another correction is due.
-
Natixis Pfandbriefbank (NPB) has mandated joint leads for its first publicly distributed Pfandbrief, which will be launched on Wednesday.
-
German health care group Fresenius is set to unroll more than €5bn of debt to fund its acquisition of Quirónsalud, a Spanish peer, which it will integrate into its Helios hospital network.
-
A dire year for hybrid issuance received some cheer on Monday as German utilities company ENBW mandated three banks for a transaction in the asset class, the European market’s third such deal this year.
-
After another week of a super solid dollar market, public sector bankers are starting to refer to the currency as “darling” — and all the signs suggest that the relationship is set for an extended honeymoon.
-
-
Steinhoff completed syndication of $4bn of acquisition loans this week with the deal going “better than expected", according to bankers. The loan market has not shown signs of fatigue for the South African-based furniture retailer, even though the borrower has already asked a lot of the market this year.
-
The German lender has appointed leads to market its first senior unsecured green deal from next week.
-
German pharmaceutical company Cheplapharm Greifswald is in the market for a €95m Schuldschein which the family-owned firm will not grow beyond the launch size.
