Mizuho

The leveraged finance market suffered an unpleasant shock this week, when $5.6bn of loans and bonds for the Carlyle Group’s acquisition of Veritas Software had to be pulled. Bankers were left blaming market sentiment, an aggressive structure — and each other, write Max Bower and Victor Jimenez.

Northgate — CBQ — Daimler

The weakness of the US leveraged finance market was brought home to market participants with a jolt on Tuesday, when the Carlyle Group, which is buying Veritas Technologies, a US data storage company, abandoned its attempt to raise $3.3bn of debt for the deal.

More details have emerged on Chinese technology firm Tencent Holdings’ $1.25bn loan that went into limited syndication last week.

Chinese technology firm Tencent Holdings has opened its $1.25bn loan into limited syndication with tight pricing on offer.

Autoroutes Paris-Rhin-Rhone, the French motorways group, stayed with the defensive tactics of its previous bond issuance on Tuesday, raising a €500m 4.3 year floating rate note.

Anheuser-Busch InBev, the Belgian-Brazilian brewer, mandated a group of 21 banks to provide its $75bn loan facility, but there was no coordinator as AB InBev took an active role in arranging the transaction.

Iris World Enterprises, an affiliate of Taiwan's Foxconn Technology Group, has picked three banks for its $300m borrowing.

Alliance Data Systems, the unrated US private label credit card and marketing services provider, is set to end meetings with European investors on Thursday for €300m of unsecured notes, its first euro issue.

Autoroutes Paris-Rhin-Rhone, the French motorways group, stayed with the defensive tactics of its previous bond issuance on Tuesday, raising a €500m 4.3 year floating rate note.

Sky, the UK satellite and cable broadcasting group, brought a 10 year euro benchmark bond on Monday, pushing out for a longer maturity after a week when many issuers stayed with intermediate tenors.

Thursday may be bonfire night in the UK but all the fireworks in the loan market were taking place in the Middle East this week, as Commercial Bank of Qatar (CBQ) launched a $800m loan alongside three other banks and with a loan for Oman also in the pipeline.