Natixis

Eiffage, the French construction and concessions company, has signed a €1bn five year revolving credit facility with 16 banks. The deal was 25% oversubscribed.

Pork producer WH Group has signed a $1.5bn facility that will refinance the outstanding principal on a $4bn acquisition loan it took in 2013. The borrower has been forced to return to the loan market after it failed to raise enough during its IPO earlier this year.

Abengoa, the Spanish renewable energy and engineering firm, has allocated a €1.4bn refinancing loan, after issuing a €500m green bond last week.

Tuesday had been a slippery day in the European corporate bond market, as a fall in equities caused two new issues to find underwhelming demand – a knock-on effect that has not happened for a long time. But by Thursday that was all forgotten. Four deals were launched, three of them triple-B rated and three of them 10 years, and all went well.

French reinsurer Scor ended a long hiatus from the euro market on Thursday, selling a perpetual subordinated deal to a warm reception. The deal stood in contrast to one from Dutch insurer ASR Nederland earlier in the week, which struggled despite juicy pricing.

Delachaux has finalised pricing on all three tranches of its €690m-equivalent seven year term loan ‘B', effectively tightening it, while revising its incurrence conditions on leverage.

Tuesday had been a slippery day in the European corporate bond market, as a fall in equities caused two new issues to find underwhelming demand — a knock-on effect that has not happened for a long time. But by Thursday that was all forgotten. Four deals were launched, three of them triple-B rated and three of them 10 years, and all went well.

Vallourec’s bond issue may have gone well on Tuesday, but for the other corporate issuers in euros and sterling it was a much rougher ride. Accor launched a €150m tap and RCI Banque a £250m sterling three year, but neither managed to tighten pricing from their initial thoughts.

Acquisitions announced on Monday by Siemens, Merck and Arkema marked the continuation of a wave of European investment grade acquisitions, with varied outcomes for syndicated loan financing.

Scor ended a long hiatus from the euro market on Thursday, selling a perpetual callable subordinated deal to a warm reception. With the issuer only offering a small size, it was able to draw a multiple times oversubscribed book.

Delachaux has finalised pricing on all three tranches of its €690m-equivalent seven year term loan ‘B and has revised incurrence conditions on leverage.

Vallourec’s bond issue may have gone well today, but for the other corporate issuers in euros and sterling it was a much rougher ride. Accor launched a €150m tap and RCI Banque a £250m sterling three year – but neither managed to tighten pricing from their initial thoughts.