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Two new Russian commodity deals are in the market, following a flurry of pre-export finance (PXF) facilities earlier in the year. Unsecured formats are proving more popular, while even PXFs are less secure than they used to be.
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Wind Tre, the Italian telecoms group, delivered Europe's largest ever high yield bond issue this week, a €7.3bn deal that has raised the bar for the market and led to expectations that more sponsors will follow suit amid heady investor demand.
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Ineos, the Anglo-Swiss chemicals manufacturer, cut costs on its term loans for the second time this year on Tuesday, after S&P joined Moody's in upgrading the rating of the new facility on Monday.
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Wind Tre, the Italian telecoms company, issued its €7.3bn senior secured bond deal on Tuesday, a day ahead of schedule, and priced all four tranches at the tight end of guidance.
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Has Europe’s corporate bond market ever been hotter than today? Perhaps, but Monday’s four investment grade deals totalling €7.4bn offered ample evidence of extraordinary demand — not least, what is believed to be the most tightly priced corporate hybrid capital issue ever, for Danone.
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French engineering services company doubled its initial launch size to just €450m, joining the growing proportion of Schuldschein deals closing over €200m. But, some question whether the growing number of larger companies accessing the German private placement market might affect funding chances for smaller SMEs
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The non-US women's health unit of Israel’s Teva Pharmaceutical Industries is mulling the option of issuing its first term loans in euros to fund its buyout by private equity firm CVC.
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Italian telecoms firm Wind called on the high yield market on Wednesday, as it planned to refinance most of its debt with a dual currency five tranche offering, deploying 20 bookrunners in the process.
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Danske Bank has hired a new director for its loan syndications team in London, who was previously a vice-president on ING.
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CMA CGM, the French container liner, priced its first bond issue on Tuesday after improving on its triple-C ratings. Investor demand was enough for the issuer to double the size of the deal.
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French shipping group CMA CGM will launch a sub-benchmark sized bond on Tuesday, a week after S&P Global upgraded the rating of its unsecured note issuance from CCC+ to B-, bringing it into line with Moody's B3 rating.
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Digi Communications’ Hungarian subsidiary signed a €200m bridge loan on Friday to finance its acquisition of compatriot communications company Invitel Tavkozlesi, a subsidiary of Invitel group. The lead banks have launched the syndication and held a bank meeting on Tuesday.