News content
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Wittur, the German elevator components supplier, has signed a €180m term loan 'B' as an add on to its existing term loan 'B' facility.
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The European Stability Mechanism looks set to issue its longest euro bond to date after sending out a request for proposals on Wednesday, as the European Union mandated for a long dated tap. Meanwhile, a German state hits the spot for investors.
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Margins on investment grade loans cannot get much tighter, said one syndicate banker after oil trader Vitol completed a $8bn refinancing of 2014 loans. -
Bahrain’s Bank ABC has hired two bankers as it expands its syndication business.
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Abu Dhabi’s Union National Bank (UNB) has increased its latest loan to $750m and closed the deal just in time to achieve a tight margin, according to one banker on the deal.
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The Republic of Ghana opened books on a partially guaranteed amoritising deal on Wednesday, with alluring initial price thoughts in the 11% yield area.
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Turkish mobile phone operator Turkcell has released price guidance for a 10 year dollar bond at 6.25% yield area, having waited a fortnight for the right opportunity to print its debut trade.
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It is Shanghai, not Frankfurt, where investors in the European high yield market have their eyes cast as China's impact on buy side sentiment overcomes ECB decisions, according to a BAML survey.
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Poland has released price guidance for a six year euro benchmark at a level which bankers away from the deal said offers a reasonable new issue premium.
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Markets have stabilised after the recent turmoil, but a lack of issuance across corporate bonds and loans this week illustrates how nervous borrowers are that further upheaval could be on its way.
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The SSA pipeline is in full flow mid-week with a series of strongly supported deals, despite Ontario on Monday pulling a euro benchmark — the first pulled public sector deal in nearly a year.
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Norilsk Nickel restarted CEEMEA supply and proved investors are willing to buy Russian risk in large size and longer tenors with a $1bn seven year note on Tuesday, which drew praise even from rival debt bankers.
