North America
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Keurig Green Mountain, the US speciality coffee and coffee machine firm, increased the euro term loan ‘B’ tranche of the $6.4bn debt package backing its acquisition by JAB Holding, the German investment group. -
Tumultuous trading on Monday took credit spreads to some of their widest since 2013, in what was variously described as ‘great entry levels’ for new trades or a ratcheting up of pain for those already nursing bruises from last week’s debacle.
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Derivatives market prices reflect growing uncertainty over the UK's forthcoming referendum on European Union membership, analysts said this week, even though the vote will not be held before June at the earliest and the Brexit campaign is widely expected to fail.
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Markit is preparing to launch what it said will be the first tradable emerging markets interest rate swap index.
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Solera Holdings, the US car insurance software maker, will start on Wednesday meetings with European investors for a $2bn-equivalent bond in dollars and euros to fund its acquisition by Vista Equity Partners.
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Solera, the US insurance claims processor, held bank meetings on Tuesday in New York and Wednesday in London for a $1.9bn term loan ‘B’, backing its $6.5bn acquisition by Vista Equity Partners.
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Credit and equity markets suffered a crisis of confidence this week, with several previously crowded trades rapidly unraveling in the face of rising concerns about European banks, US Federal Reserve policy and a perceived lack of European Central Bank firepower to revitalise the continent’s stagnant economy.
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Citigroup started marketing its first yen bonds in more than two years on Thursday after mandating banks for a five year issue in global format.
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Home Depot brought some much needed relief to the dollar market this week with a $3bn print that demonstrated that investors are prepared to deploy cash for high quality names.
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Commodity Futures Trading Commission (CFTC) chairman Timothy Massad has emphasised his "commitment to protecting commercial end-users from overly onerous regulatory burdens", drawing a sharp distinction between the core users of derivatives and the activities linked to the financial crisis.
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