Nomura

Short dated sterling paper was the only visible supply in senior on Tuesday, with Credit Suisse and Dexia Crédit Local both hitting the market. Dexia was planning to sell a three year fixed rate bond, while CS opted for a two year floater.

Rating: Aaa/AAA/-

International Finance Corp made a quick start to its funding year this week, when it raised $3bn of five year money at a very tight level, just a day into its new funding programme. The borrower expects to pick up an increased amount of funding in non-core currencies this year.

UK frozen foods producer Iglo has priced the loans and bonds in its €1.7bn refinancing facility, and scrapped plans for a fixed rate bond in favour of just issuing a floating rate note.

German industrial packaging group Mauser this week priced the tranches of its $1.6bn acquisition loan at the tight end of guidance and inside it, while keeping covenant-lite terms on all tranches but one.

UK frozen foods producer Iglo has priced the loans and bonds in its €1.7bn refinancing facility, and scrapped plans for a fixed rate bond in favour of just issuing a floating rate note.

French call centre operator Webhelp has tightened the original issue discount on its €120m loan from 99.5 to 99.75, and is due to allocate the deal on Friday.

Barclays has appointed Mitul Kotecha to lead its Asia Pacific FX strategy team in what is a new position for the bank. He relocates from Hong Kong to Singapore and he started his job last week.

Iglo, the UK frozen foods producer and distributor, has adjusted tranche sizes for its €1.2bn refinancing loan and released price guidance for both the term loans and €500m of bonds.

Webhelp, the French call centre operator, has set an original issue discount of 99.5 on its €120m increase to an existing €275m loan.

Peripheral European borrowers are set to benefit from a lack of competing supply and red hot demand this month. Conditions are strong enough this week for Portugal to launch a dollar bond in the tricky 10 year maturity, despite troubles affecting one the country’s leading banks — plus a short benchmark execution window.

German industrial packaging group Mauser has priced the tranches of its $1.6bn acquisition loan at the tight end of guidance and inside it, while keeping covenant-lite terms on all tranches but one.