NatWest Markets
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UK ventilation supplier Volution has raised a £90m four year revolving credit facility with three banks. -
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Sky Bet, the UK online gambling business, allocated its £340m seven year term loan ‘B’ at around 10am GMT on Monday morning, having further flexed the deal’s terms in favour of investors.
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Telecity, the UK data connectivity provider, has revealed a £600m refinancing loan as part of its results announcement to shareholders this year.
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The bid for Hindustan Petroleum Corp’s (HPCL’s) latest loan has been won by a group of seven banks. The syndication strategy for the refinancing is still being worked out and the deal is in its early days, with the mandate having been decided only last week, said bankers.
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Sky Bet, the UK online gambling business, allocated its £340m seven year term loan ‘B’ at around 10am on Monday morning, having further flexed the deal's terms in favour of investors.
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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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Redes Energeticas Nacionais, the Portuguese electricity and gas transmission operator, extended its bond curve by five years on Thursday with a €300m 10 year issue, getting strong demand as spreads tightened sharply.
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Greece’s olive branches to its creditors failed to impress sovereign DCM and syndicate bankers and investors this week as its bonds were routed once again. But the fortunes of the Hellenic Republic — the first eurozone country to seek a bail-out — were in stark contrast to those of the first country to leave one as Ireland sold a triumphant debut 30 year benchmark.
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SIG Combibloc has followed Altice's recent example by demonstrating the European market’s keen appetite for large leveraged M&A deals. SIG has tightened pricing on the loans in its €2.8bn deal and replaced some of the deal's bonds with loans.
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Santander was able to benefit from a strong bid for paper from the eurozone’s periphery this week, drawing a strong order book for a deal through its Santander Consumer Finance Subsidiary — bankers pointed to a more reassuring political situation in Greece as a reason to expect more deals from the region in the coming weeks. Meanwhile, Nordea was also able to appeal to investors with the first Scandinavian senior print of 2015.
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The European high yield market on Tuesday keenly accepted the first triple-C rated deals of the year: a buyout financing bond from Swiss carton maker SIG Combibloc and a refinancing issue for Norske Skog, the paper company.
