ING

A subsidiary of Malaysian telecommunications company Axiata Group has expanded the bookrunner group of a $400m loan, which was overhauled and boosted from the original $100m in November.

The Z5.14bn (€1.16bn) of loans for the leveraged buy-out of Allegro, the Polish online marketplace, have been allocated, with the leads choosing zloty rather than senior or junior euro bonds for the second lien piece.

Four European lenders have turned down a $2bn loan for National Bank of Abu Dhabi (NBAD), while local banks are starting to return to secondary markets for the first time in a year — signs that the Middle Eastern loan market could see a different set of banks driving it in 2017. Elly Whittaker reports.

US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.

Citi and ING have named new heads for their respective Asia debt syndicate teams, while Natixis has recruited a DCM banker from Commerzbank.

ING Bank has hired Winston Tay as head of Asia debt syndicate in Singapore, effective Wednesday.

Dutch construction company Royal BAM Group has refinanced a €417.5m revolving credit facility due to mature in 2018, with a smaller loan of €400m with tighter pricing, after printing a €125m convertible bond in June.

Garanti saw the syndicate for its latest one year loan shrink by five lenders. Other Turkish banks will have to take note as smaller lending groups are set to become a feature of their borrowing, according to the head of financial institutions at the bank.

Uniper, the German power and gas company on Wednesday issued its first public bond since spinning off from E.ON earlier this year, tapping the short end of the curve with a two year offering.

Czech telcoms firm Ceska Telekomunikacni Infrastruktura (CETIN) attempted to throw off any emerging markets tag it bears on Tuesday, printing a €625m trade after a long marketing period tailored to investment grade funds in western Europe, according to two bankers on the deal.

After several weeks of discussions with investors Ceska Telekomunikacni Infrastruktura (CETIN) finally hit the screens with a new bond on Tuesday – though it had to sweeten the deal with a coupon step-up – and had pulled in over €1.4bn of orders by mid-morning.

SP Mortgage Bank got a strong response this week for its first covered bond, partly due to its defensive five year maturity, while Caffil did well to issue a 15 year deal despite soaring volatility.