ING
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This week is set to be busy in Europe's investment grade corporate bond market, despite yet another dead day on Monday because of public holidays. Equities rose on Monday and sentiment is good; market participants have decided they are comfortable with what they got from the European Central Bank on Thursday.
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Iva Horcicova has resigned from ING and will join another financial institution.
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ING puts Kennedy at risk — BofA’s Tannenbaum given levfin role — Barclays hires equities chief
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ING has put an emerging markets debt capital markets banker at risk of redundancy after nearly 18 years of service at the bank.
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Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.
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Russian potash fertiliser Uralkali has signed its five year $1.45bn-equivalent loan with 13 lenders joining the syndicate. With Uralkali and Suek now signed, lenders have started to prepare for EuroChem.
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To believe their PR, banks are now paragons of clean, sustainable economic development.
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Siberian Coal Energy Co (Suek) is set to finally close a loan refinancing next week after a lengthy syndication process that bankers close to the deal blame on a growing number of lenders declining to finance coal-burning activities.
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Louis Dreyfus Co, the Dutch-based agricultural commodities trader, has renewed its $750m North American bank credit line, and become the latest company to add a sustainability-linked element to its revolving credit facility.
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The €350m listing in Amsterdam of Marel, the Icelandic meat processing machinery maker, is covered on the second day of bookbuilding, having gained early momentum partly by attracting two cornerstone orders.
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US firm Auramet has increased its syndicated loan to $190m, with the precious metals trader adding to its lending group for an oversubscribed deal.
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Marel, the Icelandic meat processing machinery company, has secured cornerstone orders from BlackRock and Credit Suisse Asset Management for its €350m IPO on Euronext Amsterdam.