NatWest Markets
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European aerospace firm Airbus has completed a €3bn loan syndication to amend and extend its €3bn five year revolving credit facility, attracting the support of 40 banks. -
Unibail-Rodamco, the French property company, achieved tight pricing on its latest eight year euro issue thanks to strong demand from across continental Europe.
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General Motors' finance arm made a triumphant return to the euro market for the first time since the financial crisis on Wednesday, attracting more than six times oversubscription for a €500m five year deal.
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Telefónica attracted more than €3.3bn of demand for its longest dated senior euro deal in more than a decade on Tuesday.
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United Internet — Vitol — Mol
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Canadian Imperial Bank of Commerce has funded itself at the cheapest ever level for any Canadian bank in the euro market. The issuer, which this week priced a five year €1bn covered bond, dispensed with setting guidance and went straight from initial price thoughts to the final spread.
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US private equity firm Apax Partners has made a €730m buyout offer for Exact Holding, the Dutch accounting software company.
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Chinese pork producer WH Group has had an eventful year. In July it finally managed a successful debut on the Hong Kong Stock Exchange after two abortive attempts. Now it is back in the capital markets, with a $1.5bn refinancing for a controversial loan it raised last year for its acquisition of Smithfield. Fortunately for the borrower, the new deal looks like it will go without a hitch, writes Shruti Chaturvedi.
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Unibail-Rodamco, the French property company, achieved tight pricing on its latest eight year euro issue thanks to strong demand from across continental Europe.
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GM Financial, the finance arm of General Motors, finally emerged with its long-awaited euro debut issue on Wednesday.
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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.
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Four issuers launched covered bonds from Germany, Sweden, Norway and Austria this week. The transactions were all well subscribed and priced tightly but the greatest degree of price tension was seen in deals that are expected to be eligible for the European Central Bank’s purchase programme.
