NatWest Markets
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The wave of acquisition financings kicked off this week as Marathon Petroleum exploited the recent sharp rally rates and caught investors in eager mood following the August lull.
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Clemens Durkop, a vice president on Royal Bank of Scotland’s Swiss franc syndicate desk, has changed roles within the bank, leaving Switzerland to take up a sales position in Frankfurt.
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Korea Hydro & Nuclear Power (KHNP) has mandated five banks to arrange a series of fixed income meetings that is scheduled to kick off from September 8.
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Hasan Mustafa, head of CEEMEA debt capital markets and risk solutions, is leaving Royal Bank of Scotland as it takes the axe to its emerging markets business.
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British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.
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Associated British Ports, which owns and operates 21 ports in England, Scotland and Wales, has refinanced the last of its batch of loans signed in 2011 with £400m of new revolving credit facilities.
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Travis Perkins, the UK building materials supplier, plans to launch what is believed to be its first public bond, with a benchmark sterling deal rated BB+ by Standard & Poor’s.
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Unédic is set to become the third issuer this week to bring a euro benchmark after the summer, having mandated a deal for Friday following deals for Finland and Bank Nederlandse Gemeenten (BNG) earlier in the week.
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The brewery, pub and hotel company Fuller, Smith & Turner, famous for its London Pride premium ale, has signed two revolving credit facilities totalling £180m.
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The sovereign, supranational and agency sector shot out of its summer snooze on Wednesday, as the first benchmark sized deals in more than three weeks drew bulging books and bankers tipped more mandates to hit screens later in the day. Investors with cash to put to work, a lower level of upcoming SSA supply than the last few years and unexpectedly dovish comments by the European Central Bank president late last week were all contributing to a heavily bid market, said SSA bankers.