Natixis
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Artsana, the Italian babycare products manufacturer, will not allocate its €575m debt package for at least another week, according to a banker on the deal. -
Île-de-France will open books for its fourth green bond on Tuesday morning, in spite of troubling US jobs data.
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Veneto Banca’s IPO bookbuild will begin on June 8, but hopes of it achieving its flotation in Milan are dim. “At the bottom of the price range, there are cheaper Italian banks,” said one banker on the deal, encapsulating the problem.
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The conveyor belt of Gulf Cooperation Council sovereign issuers shows no sign of slowing, with the Sultanate of Oman finally setting off on its roadshow this week and rumours building around the Kingdom of Saudi Arabia’s gargantuan new issue.
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Abu Dhabi's Mubadala has tightened the margin on its $1.75bn three year refinancing, despite the price on the original loan already being “eye-wateringly low”, according to one banker.
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The CEEMEA bond market is in full flow as issuers jump in ahead of the FOMC meeting, Brexit vote and Ramadan. Two issuers are out with initial price thoughts and a string of others have mandated for new bonds.
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Insurance firm Delta Lloyd has agreed its first revolving credit facility for €600m but the borrower has no immediate plans to draw on the facility, according to the Dutch firm’s chief financial officer.
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Ghana Cocoa Board (Cocobod) will complete senior syndication of its $1.8bn annual loan and launch the general phase next week, according to a lead banker.
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After a bumper week in dollars, euros will be back on the CEEMEA table this week with PKN Orlen and Croatia wrapping up meetings on Tuesday. But the European Central Bank meeting on Thursday and US data on Friday is expected to keep issuance limited this week.
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Commodities trader Gunvor Singapore has increased the size of its latest loan to $1.041bn from the launch size of $750m, signing the deal on May 25, according to sources.
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French lender BPCE became the latest bank to shore up its Basel III tier two capital in the Singapore dollar bond market this week.
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