News content
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Dufry, the Swiss travel retail operator, has launched a term loan of up to €800m to finance its acquisition of World Duty Free. It will mainly be syndicated to relationship banks. -
Turkish loans are gathering pace in April, with Turk Eximbank agreeing a deal, five peer banks nearing completion and a corporate deal taking shape.
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The Republic of Turkey priced a $1.5bn 11 year bond on Wednesday with a minimal new issue premium, as the savvy borrower maximised the benefit of low supply in the dollar market.
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Siaci Saint Honoré, the French insurance broker, has tightened pricing on a €285m acquisition loan and is due to allocate the facility today (Friday).
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German plastic film maker Kloeckner Pentaplast has launched an €831m-equivalent loan in dollars and euros to refinance debt and pay a dividend.
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Africa Finance Corp (AFC), the multilateral lender, is meeting investors for its inaugural Eurobond.
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There was a double boost for the green bond market this week, as one issuer announced plans for a debut deal — and another revealed it would be adding a green portfolio to its investor business.
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ING’s debut additional tier one bested the book sizes achieved by recent blowouts in the asset class by bringing in a $26bn book by Thursday afternoon — one of the largest books ever seen in AT1.
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Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated five banks to arrange a dollar Reg S bond — BNP Paribas, Citi, Commerzbank, ING, and Standard Chartered Bank.
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A southern European sovereign dipped into negative yield territory at auction for the first time this week. But despite the ultra-low returns in euros, bankers doubted whether European sovereigns would follow Mexico’s daring 100 year euro benchmark this week.
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The senior unsecured market saw a spark of life despite the holiday shortened week, with €4.66bn equivalent getting away in two business days.
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Bankers this week said the corporate bond market had a notably different tone from before Easter. Investors appear to have returned from the break more confident. That will help the lengthening queue of issuers lining up to bring deals.
