NatWest Markets
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On Friday Nestlé extended by a year €5bn five year revolving credit facility it had signed in October 2013. The Swiss foods producer also replaced a €5bn-equivalent short term facility with a new facility of €6bn. -
Alliance Automotive, the French-UK car parts distributor, is set to issue €325m of high yield bonds to refinance its acquisition by Blackstone and the company's founders from Weinberg Capital Partners in August.
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Reliance Jio Infocomm’s $1.5bn dual tranche loan that opened in September has received around $280m in commitments from five lenders during general syndication. At least five more banks are processing approvals for the loan and the deadline for commitments has been extended to November 24 to allow them to come in.
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Ireland took a firm step towards joining the eurozone core this week by extending its curve to 15 years with a bond that market participants said was the clearest sign yet that it was pulling away from the rest of the periphery. But the gap between Europe’s top borrowers and weakest names may be about to narrow further very soon. This could be in response to moves by European Central Bank president, Mario Draghi, who opened the door a little further to full blown quantitative easing.
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Gambling equipment provider GTech SpA and its subsidiary GTech Corp have completed a $2.6bn five year multicurrency revolving facility in dollars and euros.
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European companies are lining up alternatives to bank funding, helping to push privately placed debt further into the mainstream, according to a report by Allen & Overy. However, the pan-European private placement (PEPP) market is still in its infancy and providing only a small fraction of corporate funding.
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Alliance Boots’ £12bn leveraged buyout in 2007 was a titanic and totemic deal, which symbolised the height of the pre-crisis LBO wave. This week, the financing was done that will remove the UK pharmacy group’s name from the corporate landscape, merging it with US chain Walgreens into WBA — Walgreens Boots Alliance.
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Ford Credit Europe Bank, the American car maker’s UK-based European financing vehicle, came to the sterling unsecured bond market for the second time this year to issue a £400m five year on Thursday.
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Casino equipment provider GTech SpA and its subsidiary GTech Corp have completed a $2.6bn five year multicurrency revolving facility in dollars and euros.
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Mercuria Energy Group that launched its $1bn triple tranche revolving loan into general in September, will likely increase the size of its borrowing.
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There’s a distressing tendency among equity analysts to underplay investment banking, especially when it comes to once proud universal banks like Barclays and RBS. CEOs play up their retail banking credentials, but the investment banks will have the last laugh.
