News content

KfW has hired a pair of banks to run an eight year dollar deal. The deal, which is set to be priced on Friday, is the first syndication at the long end of the dollar curve this week.

Italy’s 10 year borrowing costs fell at auction for the first time since March on Thursday, although the sovereign fell slightly short of its maximum target for the sale.

Goldman Sachs, as stabilising agent, partially exercised on July 24 the over-allotment option of Europcar, the French car rental company that floated in Paris a month earlier.

The secondary market is no longer a relevant tool for covered bond price discovery, say bankers, as spreads have come only to reflect the level at which the eurosystem will buy bonds rather than regular investors.

Russian Uralchem is in the advanced stages of syndicating a $400m loan with a four year tenor, according to bankers on the deal.

Canadian online poker platform Amaya has launched a $400m refinancing loan that will in part pay down debt incurred to acquire two rivals last year.

As sterling investors defy the summer slowdown Oesterreichische Kontrollbank and Swedish Export Credit Corporation brought opportunistic trades in the currency.

A recent $150m loan for Sub-Saharan-based telecommunications firm Africell has a four year tenor, bankers close to the deal have revealed.

French smart card manufacturer Linxens has shifted tranche sizes in its $1bn leveraged buyout loan, moving dollars from junior to senior tranches and creating a second lien for euro investors.

Turkish banks have become reliant on short term MTN funding, using access to that market as a reason to refuse to print benchmarks after their spreads have drifted wider this year.

This year Chinese securitization has struggled to continue the momentum it showed at the end of 2014, failing to come close to the increased Rmb500bn ($82bn) quota from regulators. While there is more than one reason behind why issuance has been slow, market participants are still confident the budding asset class will come good by the end of the year.

Georgia fertiliser firm, Rustavi Azot postponed its $180m five year non-call three bond on Wednesday, having released initial price guidance for the deal a week before.