Natixis

French data processing services firm Tessi is marketing €276m of loans to fund its acquisition by Dentressangle Initiatives, as some pressures on the levloan market from EU political tensions recede.

The Loan Market Association appointed four new board members at its annual general meeting this week

Just one bank was absent from French automotives parts manufacturer Faurecia’s amend and extend deal signed June 24.

Electricité de France has named 16 banks to underwrite its €4bn rights issue, of which €3bn will be bought by the French government.

Swedish sponsor EQT is set to syndicate €1.25bn of loans in July to fund its acquisition of German Bilfinger’s real estate business, in a market that has been led by German and French deals since the Brexit referendum.

Amid the chaos in global markets on June 24, the IPO of Veneto Banca reached its expected conclusion: the book closed almost empty and the listing was cancelled, leaving Fondo Atlante, the Italian bank rescue fund, to provide the €1bn of capital Veneto had to raise.

Leveraged loan investors this week showed healthy appetite for core European deals as French data processor Tessi and German jewellery maker Amor began marketing their acquisition loans.

A $12.7bn Asia-focused loan for China National Chemical Corp’s acquisition of Swiss firm Syngenta is expected to enter the second phase of syndication as early as next week.

Dentressangle Initiatives is seeking €276m of loans to fund its acquisition of Tessi, the French provider of data processing services, which it also plans to delist.

Salini Impregilo, the Italian construction firm, sold €300m of non-callable notes on Thursday to refinance its old 2018 notes, and finance part of its acquisition of US peer Lane Industries.

Two new borrowers launched deals in the European high yield market on Monday, PVH and Salini Impregilo. Both are double-B rated, like most of last week’s deals.

French retailer Fnac is assigning allocations to the 17 banks that joined its €1.35bn loan in syndication, with another lender added to the deal this week.