LBBW

Société de Financement Local (SFIL) has picked banks to sell its first benchmark in euros this year.

Germany’s Stadtwerke München has amended its €500m revolving credit facility to add a sustainability element, as the nascent loan structure starts making further inroads with the country's borrowers.

A trio of French companies moved ahead with Schuldschein deals this week, and bankers expect the coming weeks to be packed with borrowers seeking to raise funds before the summer.

Germany’s Dürr Group has launched a €150m sustainability-linked Schuldschein, as borrowers continue to crowd the market, looking to complete deals ahead of the summer break.

LBBW's second green senior bond, issued on Wednesda,y was comfortably oversubscribed and had many more orders than its debut deal, even though the market backdrop was more volatile this time round. At the same time Westpac New Zealand mandated leads for a roadshow ahead of its own debut green senior bond.

France’s Lagardère is set to price and allocate its €150m Schuldschein in one month, as borrowers look to get deals done before the bulk of European investors head off on summer holidays.

K+S, the potash and salt producer, has refinanced its revolving credit facility a year early, to lock in favourable borrowing terms at it seeks to move back to positive free cashflow for the first time for more than five years.

France’s Lagardère has launched a Schuldschein deal, with the media company likely the only new name on screens before an expected deluge of trades from next week onwards.

Evotec, the biotech and healthcare company headquartered in Hamburg, has launched a Schuldschein with a €100m starting target.

The arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that though the oversubscribed order books closed on Monday, they have extended the timetable for settlement to allow some investors “additional time to firm up their orders”.

Denmark’s Bunker Holding has signed a multi tranche revolving credit facility totaling $1bn, as the shipping fuel and lubrication oils company prepares for a “paradigm shift” headed for its industry.

LBBW did not have to pay a premium to launch a tier two in 10 year bullet format on Monday. A banker on the deal said that other issuers could follow suit, eschewing call options to take advantage of a renewed thirst for duration among investors.