Natixis

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.

Île-de-France was able to tighten pricing on a green bond by 5bp from initial thoughts while still overshooting its target size this week. Bankers away from the deal said it was more a sign of the maturity of the green bond market than about any one issuer or bond.

Rating: Baa1/BBB-/—

Oman successfully pinned down $2.5bn of funding through a dual tranche note this week, even as Saudi Arabia’s gargantuan bond creeps closer.

Cegid has launched €365m of loans for its buyout, at a 25 times multiple, by two investment firms. One of the buyers was set up by the former chief operating officer (COO) of Goldman’s investment banking unit in Japan.

Ghana Cocoa Board (Cocobod) has completed senior syndication of its $1.8bn trade finance loan and will pay a few basis points more than last year’s deal to reflect harsher market conditions.

Oman has released final price guidance for its dual tranche note with order books in excess of $7bn.