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Polish banks showed their deep pockets by signing a record Z12.5bn (€3bn) loan for television company Cyfrowy Polsat this week. But banks could face a tax which might reduce their capital by a third. -
The European Union has just €1.2bn left of a €5.2bn funding plan for September and October, having raised €2bn with an eight year this week that many bankers praised as evidence of normalisation of the pricing process in euros.
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Several public sector borrowers are tipped to come into a reopened dollar market next week — but some SSA bankers warned that conditions are still not at full strength.
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The expected deluge of high-grade issuance stumbled after a strong start as volatile market conditions sent issuers scampering to the sidelines.
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The European Central Bank's covered bond purchase programme is once again regularly taking half or more of primary issuance, with negative repercussions. It should step back.
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Mondelez followed up its Swiss franc debut in March with a second successful outing this week, taking the total raised in the currency this year to Sfr1.075bn.
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Yankee and US banks dictated the pace of dollar supply as they moved early to print TLAC-friendly trades ahead of the publication of the final regulatory rules.
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UBS pulled in $13bn of demand for a holdco senior debut in dollars this week, which for some bankers showed the gulf between attitudes towards loss-absorbing debt on either side of the Atlantic.
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Coca-Cola made an impressive debut in Swiss francs on Tuesday with a three tranche deal that matched Shell’s August record-breaker in size.
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Park Resorts, the UK’s largest holiday park operator, will syndicate a £550m term loan 'B' after bank meetings in London this week.
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The holding company of French motorway operator Société des Autoroutes du Nord-Est de la France, Holding d’Infrastructures de Transport, printed a €200m tap on Tuesday as the primary market remained quiet.
