JP Morgan
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Norwegian car parts manufacturer Kongsberg Automotive is refinancing loans in the high yield market with a deal that offers investors the biggest double-B coupon seen since April. -
The European Investment Bank is set to bring the first five year dollar benchmark from an SSA in nearly three weeks — and only the third since the first quarter — after mandating banks on Monday. The issuer will be joined by a triple tranche trade from the Japan Bank for International Cooperation.
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Specialty chemicals distributor Azelis offered a €1bn loan deal to fund its acquisition by EQT this week. It has pre-placed almost half of it amid widening margins in the European leveraged loan market.
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Despite a tricky execution window, Shandong Ruyi, the Chinese textiles conglomerate, has completed the first sale of stock in French fashion house SMCP since its IPO on Euronext Paris last year, alongside the sale of a €50m exchangeable bond.
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VFS Global, a tech services specialist for governments across the world, is reducing the cost of its subordinated debt by increasing the size of its term loans ‘B’ to pay down more expensive second lien loans.
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A German sub-sovereign astonished the SSA market this week, selling a 50 year benchmark to show that, despite the expectations of rising rates in euros, some investors at least are still happy to put money into assets at the ultra-long end. Lewis McLellan reports.
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Hong Kong was inundated with IPO filings this week as banks sought to give themselves enough runway to launch deals before the end of the year.
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The State of North Rhine-Westphalia has launched its first ever 50 year benchmark, coming to market just as Bank Nederlandse Gemeenten landed at the short end.
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Investors have squeezed better terms out of Mehiläinen, the Finnish healthcare group seeking a €1bn loan to finance its acquisition by CVC.
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JP Morgan has started credit default swap clearing with London-based clearing house LCH, opening a line with a Nordic pension fund.
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Lietuvos Energija on Tuesday made full use of its green credentials to price a €300m bond with a much smaller new issue concession than has been seen on the majority of recent new issues.
