Goldman Sachs
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Turkey’s Vakifbank was able to increase the size of its deal on Tuesday to $650m after strong demand propelled the book to over $1.7bn, as funding costs return to levels seen before the fourth quarter of 2017. -
The European Financial Stability Facility (EFSF) has announced a dual tranche for its second trip to market for the year. The trade will come on the heels of a €1.4bn Agence Française de Développement (AFD) 10 year, which managed to cut 4bp from its spread between guidance and launch.
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Italo, the private Italian operator of high speed trains founded by a former chairman of Ferrari, has announced its intention to float on Borsa Italiana, offering investors a “unique” opportunity to play the high speed rail market in Europe, according to a banker involved.
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Turkey’s largest hospital group, MLP Sağlık Hizmetleri, also known as MLP Care, set the terms of its IPO on Monday and expects to price it next month.
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Axilone, Comexposium and Hurtigruten have begun the syndication of a combined deal volume of €1.5bn, but European leveraged loan spreads are now so tight that some investors are heading for the exit.
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Martin Weber, a Goldman Sachs managing director, is moving to Dubai to run the bank’s MENA financing group.
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Saudi Arabia has requested proposals to refinance its $10bn syndicated loan, signed in 2016. It has also asked for ideas for a dollar bond issue and a possible export credit agency-backed financing, as part of a new financing plan.
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Vakifbank opened books on Tuesday on the third senior 2023 from a Turkish financial institution this year and was expected to guide investors towards a sub-6% print.
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Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn.
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Petkim Petrokimya Holding brought the first high yield corporate trade from Turkey since 2014 last Friday, raising $500m with a sub-6% coupon.
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The German private nursing care group Alloheim Senioren-Residenzen is out with a new leveraged loan offering to fund its buyout by Nordic Capital. This loan is among the first deals to be lined up to close in February, as hopes build of a surge of merger and acquisition driven borrowing.
