Natixis

Private healthcare group Générale de Santé will hold a bank meeting this week for a €1.1bn loan to back its takeover by Ramsay Santé.

Three issuers launched covered bonds this week with varying results, which suggested that the converging trend between core and peripheral Europe has stalled. Banca Monte dei Paschi di Siena (MPS) struggled to attract anything like the demand seen in its previous covered bond as Portuguese woes outweighed the programme’s rating upgrade into investment grade territory.

French hotel chain B&B Hotels has allocated a €175m senior secured loan that will refinance existing debt.

Private healthcare group Generale de Santé will hold a bank meeting this week for a €1.75bn loan to back its takeover by Ramsay Santé.

Middle East-focused oil trader BB Energy has signed an oversubscribed $175m one year loan from 20 banks, in a deal that lenders say typifies the ample cash available to borrowers.

Carrefour, the French supermarket group, launched its first bond issue on Monday for over a year. Despite markets being weaker than last week, the deal attracted a much bigger book than any of last week’s issues.

French former mortgage lender Caisse Centrale du Crédit Immobilier and Dexia Crédit Local took to what market participants described as a wobbly market this week, offering investors government guaranteed bonds that both brought in large books.

German industrial packaging group Mauser this week priced the tranches of its $1.6bn acquisition loan at the tight end of guidance and inside it, while keeping covenant-lite terms on all tranches but one.

Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.

Bayerische Landesbank took advantage of an empty market to price what could be one of the last covered bonds before the summer lull kicks in. The €500m seven year Pfandbrief attracted a heavily oversubscribed and granular book that gained solid momentum from the start — in contrast to other recently issued Pfandbriefe.

Dexia Crédit Local hit the market on Wednesday with a three year senior bond guaranteed by Belgium, France and Luxembourg, following on the heels of Caisse Centrale du Crédit Immobilier de France’s successful €1bn GG senior on Tuesday.

German industrial packaging group Mauser has priced the tranches of its $1.6bn acquisition loan at the tight end of guidance and inside it, while keeping covenant-lite terms on all tranches but one.