Goldman Sachs

Unibail-Rodamco has taken out a €6.1bn bridge facility from its advisers Deutsche Bank and Goldman Sachs, to finance its acquisition of Westfield Corp, the Australian shopping centre operator, for an enterprise value of $24.7bn.

State-owned Indian lender Punjab National Bank has wrapped up a Rp50bn ($775m) capital raise through a qualified institutional placement (QIP), according to a banker on the deal.

Three Chinese issuers hit the debt market on Tuesday, launching dollar deals. While the pace of new issuance is beginning to slow down, there appears to be no end in sight for the primary bond market.

Abu Dhabi National Oil Co attracted good international participation to the $850m IPO of Adnoc Distribution, its chain of petrol stations and shops in the United Arab Emirates, which was priced on Friday.

Inter Media and Communication, the operator of FC Milan’s broadcast and sponsorship business, was out with its first high yield bond offering this week. Debutants have increased their presence in the market since June.

Colombian toll road project Rutas al Mar is looking to meet investors ahead of a potential local currency bond transaction, according to DCM bankers, in what would be the third issuance from the country’s flagship 4G road-building programme.

BMC Software has shrunk its triple-C rated high yield bond issue from €380m to €250m as demand proves hard to come by. But Burger King France has managed to price its offering at the tight end of the range, though with an adjustment to the tranching.

The year's total issuance of triple-C rated bonds in the European high yield market jumped from €4bn to more than €6bn this week. Many believe this could be the last week to bring new deals in 2017.

SSA bankers looking to get their Christmas shopping in early were in a state of shock on Tuesday, as the World Bank brought a dollar deal to follow the Province of New Brunswick’s return to the currency after a six year hiatus. But that could be it for 2017 as issuance is unlikely next week, which is bisected by a Federal Open Market Committee meeting.

The euro high yield pipeline unveiled a battery of deals this week, six of them with ratings below double-B. The largest came from French frozen food retailer Picard Surgelés, which will refinance over €1bn of existing debt and pay a dividend to its private equity sponsors.

Abu Dhabi National Oil Co, the Abu Dhabi state-owned oil company, is set to price the initial public offering of its distribution arm on Friday, in a deal worth Dh3.125bn ($851m), after revising guidance to the lower half of the range.

Euro high yield bond buyers caught sight of a rare two digit coupon this week. Perstorp, the Swedish speciality chemicals group, priced its subordinated note with a 10% coupon.