Natixis
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Italian electricity company Enel refinanced a €9.4bn credit facility on Thursday and reduced the margin on the loan from 190bp to 80bp over Euribor. -
An incredible streak of record breaking low yields skipped through the covered bond market this week as issuers from Germany and France set new records, while another outside the Eurozone issued the first deal longer than 10 years with a coupon below 1%. Despite the low level of return, investors piled into all three euro transactions.
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Tentative allocations are out for Indonesian oil and gas company Pertamina’s five year fundraising. The loan has been closed at a size of $1.747bn, with the dozen banks at the top that prefunded the money managing to sell down as per expectations, said bankers close to the transaction.
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Natixis has promoted Alain Gallois to global head of fixed income. The newly created role completes the cosmetic changes made by the bank to create a single debt platform.
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Survitec, the UK survival equipment provider, has opened books on a £250m-equivalent term loan backing its buyout by Onex.
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Tentative allocations are out for Indonesian oil and gas company Pertamina’s five year fundraising. The loan has been closed at a size of $1.747bn, with the dozen banks at the top that prefunded the money managing to sell down as per expectations, said bankers close to the transaction.
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Barclays loses EM syndicate manager - Natixis picks FIG M&A head - Rosenblatt hires two for EM push
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Natixis has hired Christophe Muyard as head of M&A and capital management for financial institutions.
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SNCF Réseau sold its largest ever benchmark on Tuesday, showing it had little problem tempting investors back to its paper after rebranding from Réseau Ferré de France (RFF).
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The rally in government bonds since the European Central Bank announced its sovereign quantitative easing programme at the end of January has restored relative value in core European covered bonds. Though yields remain low, BPCE and Belfius Bank this week issued benchmark deals that enjoyed exceptionally good demand that was boosted by the return of real money rates investors to covered bonds.
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Eiffage, the French construction company, is refinancing a €3.3bn term loan and revolving facility for its subsidiary Autoroutes Paris-Rhin-Rhône (APRR). Seven banks are underwriting the loan and syndication is planned to close next week.
