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The UK government will introduce an exemption on withholding tax on interest on certain private placements from January 1, 2016, a move welcomed by the Loan Market Association.

Huhtamaki, the Finnish food and drink packaging maker, has refinanced a €400m revolving credit facility and extended the tenor by a year.

Kuwait’s Burgan Bank is wrapping up a year of busy financing activity from Middle Eastern banks. It completed a $350m loan on Wednesday, increased from $300m.

Leveraged finance markets in Europe may face growing competition from private placements as their core borrowers go for smaller tranches. Geert Arlman, mid-market director at Standard & Poor’s, shares with GlobalCapital insights from the agency’s 2016 focus research.

Kathrein, the German communications technology manufacturer, has signed a €350m revolving credit facility for refinancing purposes.

The Climate Bonds Initiative released on Tuesday an update of its Climate Bonds Standard in the wake of the COP21 conference in Paris earlier this month.

Citi held onto its top spot in the CEEMEA bond league tables this year and continued its grab of market share even though absolute volumes were destroyed. Meanwhile, Deutsche Bank, BNP Paribas and Goldman Sachs lost ground as Barclays, Société Générale, Unicredit and Standard Chartered Bank rose through the ranks.

Qihoo 360 Technology is raising a $3.4bn equivalent renminbi loan to back its delisting from the New York Stock Exchange, picking China Merchants Bank to supply the funds.

Bank of Chongqing has trimmed the size of its H-share placement to HK$3.23bn ($417.56) after several investors dropped out of the trade, almost halving the amount of shares on offer.

Mexican infrastructure and construction giant Empresas ICA is heading for default after the company said it had decided not to pay a $31m interest payment due November 30 before the expiration of the grace period on December 29.

A very merry Christmas from GlobalCapital which is looking forward to a resurgent Latin America in 2016, among other things. We'll be back on January 4.

Xinte Energy Co wrapped up bookbuilding on Tuesday for its HK$1.29bn ($166m) IPO in Hong Kong, one of the last listings in the city this year, with shares pricing at the bottom of the range.