JP Morgan

Public sector borrowers are snapping up opportunities in the medium term note market, as Greece’s bail-out negotiations and imminent US non-farm payroll data stifle syndicated supply.

Norwegian oil exploration company Det Norske has completed syndication of its $550m revolving credit facility and also increased its reserve base lending facility.

Fiat Chrysler Automobiles has completed syndication of a €5bn revolving credit facility, in the company's first loan refinancing since Fiat Group Automobiles merged with Chrysler last year.

Eusktaltel, the Basque Country telecoms firm, priced its Madrid IPO on Monday in the lower half of the range, raising €764m, in a volatile week for stock markets as the Greek crisis rolls on.

Shares in Sophos traded up on Tuesday to about 234p, cementing a 4% gain since the UK software security firm’s IPO was priced on the morning of Friday last week at 225p a share. According to the London Stock Exchange, it was the largest software IPO in UK history.

BNP Paribas has made two senior hires in high yield secondary markets, poaching trader Mike Wheeler from Morgan Stanley and salesman Justin Perry from JP Morgan.

Capio, the Swedish healthcare group, rose on its first day of trading in Stockholm on Tuesday, after an IPO that was little affected by the Greek crisis, thanks to heavy cornerstone support.

Manulife US Real Estate Investment Trust (Reit) started building up its order book for a S$569m ($426m) Singapore IPO on Monday, June 29, following two weeks of investor education that saw steady interest coming through.

German cosmetics firm Douglas Holding, which is being acquired by CVC Partners from Advent International, sold €635m of high yield bonds on Friday after cutting their size for a second time.

CVC Partners on Thursday reduced to below €1bn its high yield offering to fund the acquisition of German cosmetics retailer Douglas Holding — yet investors dismissed the cut as a sign of an increasingly ‘closed for business’ market.

Douglas Holding, the German perfume retailer, has become the third leveraged finance borrower this week to feel the lash of investors' anxiety about Greece, as it widened pricing on its €1.22bn loan.

Two equity block trades were launched in Europe on Thursday night, despite the ever-dwindling hopes of resolution to Greece’s debt crisis. Remarkably for such a day of political stress, the Euro Stoxx 50 spent part of the day in the green and ended exactly flat.