Intesa Sanpaolo

Ghana Coco Board (Cocobod) has closed the senior syndication of its $1.3bn one year annual pre-export finance facility, with a bank meeting due to be held on Monday, June 25.

A new proposed European Parliament and Council directive aimed at non-EU lenders and non-bank institutions will cause “significant uncertainty and disruption” to the primary and secondary syndicated loan markets, the Loan Market Association has warned.

A move tighter in credit spreads was led by Italian banks on Monday morning, raising hopes that issuers will find room to navigate ‘tricky’ new issue conditions in the euro market this week.

Investors and analysts are assessing Italian banks in light of the fall in their capital ratios resulting from their exposure to sovereign debt.

French car company Groupe PSA has amended its €3bn revolving credit facility, stretching out the maturity out by five years.

Investors have been reducing their exposures to risk in financial markets this week, after Italian president Sergio Mattarella helped to set the country on a course towards fresh elections.

Italian bank debt was in the firing line this week, after investors became fearful of the country’s political situation for the first time since the election in March.

Investors moved to reduce their positions in Italian bank bonds after a leaked document on Tuesday night showed that the Five Star Movement and Lega parties were considering introducing a number of controversial policies should they enter into a governing coalition.

Gruppo EF Solare Italia, Italy's leading photovoltaic solar energy company, has signed a €1bn project finance loan to refinance its debt after rapid growth through acquisitions.

Italian scooter maker Piaggio announced a high yield bond roadshow on Tuesday, the seventh issuer to do so in five days as volumes continue to rebound after a difficult February.

Egypt opened books on its debut dual tranche euro issue on Monday, following investor meetings in Europe last week.

Six CEEMEA issuers dived into the bond markets this week, releasing roadshow details straight after the Easter break.