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In the corporate market investors aren’t buying and issuers aren’t mandating. But borrowers are still keen to roadshow. That is giving false hope to bond syndicates, and the costs could outweigh the benefits.
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Falck Renewables, the Italian company that produces wind, solar and biomass energy, has signed a €150m five year revolving credit facility with nine banks.
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Mauser, the German industrial packaging group, has won near-unanimous acceptance for its amendment exercise on a $1.6bn leveraged loan, originally closed last July to back its buyout by Clayton, Dubilier & Rice.
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The Singapore Exchange has been languishing this year, with no sizeable IPOs hitting the market. But things could be finally looking up, with Canada’s Manulife Financial Corp making headway with a real estate investment trust listing in the southeast Asian city-state. It’s time for issuers to prepare for a market revival.
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Tessenderlo Chemie, the unrated Belgian chemicals company, was undeterred by fragile market conditions on Tuesday as it began marketing a two tranche bond to institutional investors, which it will open up to retail buyers later this week.
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You know when you know what someone means, but what they’ve actually said is gobbledygook?
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Another bank has joined the procession of Middle East borrowers targeting perpetual deals, and picked banks for its first ever bond in that format.
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Greek banks saw their bonds plummet in the secondary market this week as investors prepare for the worst with no resolution in sight between the country and its creditors.
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International Finance Corporation has given emerging markets bond trading a boost by investing in a new trading platform dedicated to the asset class.
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Lending banks' interest in Akbank's ground-breaking three year loan is growing, and the Turkish bank is likely to increase it from $250m.
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Nekton Global, an energy merchant business chaired by the financier behind Skype, Gerard Lopez, has acquired a 50% stake in Rise Capital.
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Standard Chartered has launched a €50m ($60.77m) loan for Zhongding Hong Kong. The three year facility comes with a increase option that allows it to be upsized to €150m if fully exercised.