Intesa Sanpaolo
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Spain could wrap up its funding target for the year at an auction of three and five year debt on Thursday, but while the yield is likely to fall on the shorter bond the longer dated paper’s yield is set to rise. Meanwhile, Cassa Depositi e Prestiti looked set to pass its first syndication test since May after setting pricing on a January 2018 bond at the tight end of initial price thoughts on Wednesday. -
Publicis Groupe's $3.5bn loan for its acquisition of Sapient, the marketing and consulting company, is near closing, according to a banker working on the deal. A syndicate of relationship banks has been invited.
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Investment banking profits look poor at the two big Italian banks, UniCredit and Intesa’s investment bank Banca IMI.
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Pirelli, the Italian tyre producer, launched its first bond for two years on Thursday, and its first in euros since February 2011, and achieved a tremendous blowout, with a book of well over €5bn before reconciliation.
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Pirelli, the Italian tyre producer, launched its first bond for two years today, and its first in euros since February 2011, and achieved a tremendous blowout, with a book of well over €5bn before reconciliation.
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Rights and shares in Societa Cattolica di Assicurazione, the Italian insurance company, began trading separately today for the first time.
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Asset managers Tikehau IM and Emisys have provided a six year €14.2m unitranche bond facility for the acquisition by a group of investors led by LBO Italia of GF SpA, a manufacturer of automated filling machines for the pharmaceutical industry. It is the first time such a debt structure has been used for this type of deal in Italy, people involved said.
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FGA Capital, the car finance arm of Fiat, returned to the bond market on Monday for its third bond of the year.
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The subordinated debt market for European financials was back in full swing with four deals out on Monday morning boosted by the European Central Bank's policy decisions made last week.
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British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.
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