Goldman Sachs

Dutch business publisher Bureau van Dijk has started the autumn run of leveraged loan deals, launching a €620m loan to back its buyout by EQT.

A trio of issuers printed oversubscribed deals in dollars this week, including the Inter-American Development Bank’s largest ever dollar global. More borrowers are eyeing issuance in the currency given the impressive levels of demand on offer, although holidays next week will make windows of issuance few and far between.

The wave of acquisition financings kicked off this week as Marathon Petroleum exploited the recent sharp rally rates and caught investors in eager mood following the August lull.

Goldman Sachs is preparing a debut sukuk deal that could pave the way for other western banks to use Islamic finance to tap into a huge pool of Middle East liquidity. But much will depend on the pricing and whether Islamic investors accept the deal, which comes almost three years after controversy around Shariah compliance brought down the US firm’s first attempt at an inaugural sukuk. Steven Gilmore reports.

Bureau van Dijk, the Dutch business publisher, held a well attended London bank meeting this morning for its €620m loan, during which original issue discounts were released for all three tranches of the deal’s term loan.

Goldman Sachs has reignited plans for a debut sukuk deal almost three years after controversy around Shariah compliance brought down its first attempt. Debt bankers and Islamic finance specialists away from the deal lauded the issuer’s adjustments from its original attempt, and investors are hoping a successful print will encourage other western conventional banks to sell sukuk.

Mobile phone maker Xiaomi launched its $1bn dual tranche loan into general on Tuesday afternoon, following a successful senior phase during which 17 banks joined for the bookrunner and mandated lead arranger title.

Silicon Valley’s deal boom is noteworthy because in many cases, investment banks aren’t involved, writes David Rothnie. Staying relevant in this sector runs against the short term cost control mantra prevalent in banking today.

Dutch business publisher Bureau van Dijk has started the autumn run of leveraged loan deals, launching a €620m loan to back its buyout by EQT.

Whether it is because investors have full faith in the eurozone periphery recovery story, are desperate for yield or a bit of both, there was little doubt this week that sovereigns in the region will be able to extend their average maturities in the coming months.

Mobile phone maker Xiaomi has opened its $1bn dual tranche loan into general on Tuesday afternoon, after cementing a bookrunner and mandated lead arranger group of 20 banks.

Nyrstar, the Belgian mining and metals business, wants to raise €600m through a €250m rights offering and €350m bond issue, as it seeks to buy back existing bonds, reduce its net leverage and fund an upgrade of its smelters.