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Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing is progressing well, with the deal already receiving $750m worth of commitments, said a banker. Nine banks have committed so far and a handful more are expected to join before close.

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A short window of issuance is open for borrowers with dollar benchmarks to do ahead of the Thanksgiving holiday next week that heralds the traditional close of the market.

Yildiz Holding, the Turkish food manufacturer, has announced details of the debt package that will back its buyout of United Biscuits, in advance of a London bank meeting on Friday.

Fomento de Construcciones y Contratas's shareholders approved a €1bn capital increase at an extraordinary shareholders meeting on Thursday in Barcelona, allowing the Spanish building and environmental services company to begin restructuring a €4.5bn loan.

Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buy-out by Oak Hill Capital Partners.

After a lengthy absence from sterling, Instituto de Crédito Oficial is keen to reestablish itself as a permanent name in the currency. The Spanish agency sold its first new issue in the sterling bond market in five years this week, while Finland came soon after with a five year.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, has received more than enough demand to complete the institutional tranche of its initial public offering, just three days after the deal was launched and a week before the deadline for commitments.

Auctions will be the main source of euro issuance from sovereigns, supranationals and agencies for the rest of the year, after the European Stability Mechanism this week opted against sounding banks for a syndication during its last deal window next week. But the market was strong for issuers that did come this week, with a pair of deals priced at the tight end of initial price thoughts.

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Israel Chemicals has released initial price thoughts for a 10 year note, copying the form set by Israel Electric — which printed the same tenor on November 5.

UK biscuit maker United Biscuits has given guidance on the currency split of the £760m-equivalent term loan ‘B’ slice of its leveraged buyout by Yildiz.