Rabobank

Spain’s Grupo Siro has signed a €240m loan with sustainable features, as green financing continues to make a path into the syndicated loan market.

The Netherland’s Riwal Holding Group has substantially increased the size of its revolving credit facility, refinancing its bank debt early as terms in the slow primary market continue to be weighted in favour of borrowers.

The Netherlands could be at the beginning of a crackdown on tax benefits for additional tier one (AT1) capital, after the European Commission said that state aid concerns had convinced it to take aim at provisions that allow banks and insurers to deduct tax from interest paid on the instruments.

Dutch residential property company Vesteda sold a €500m eight year bond on Tuesday to help refinance its acquisition of a Dutch property portfolio from Dutch financial services company NN Group.

UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.

Dutch banks have moved one step closer to being able to issue non-preferred senior debt after the government made progress with the relevant legislation this week, but a spokesperson for the ministry of finance suggested that final implementation was not expected until the fourth quarter.

Bank debt investors have calmed their nerves about the possibility that Dutch banks will call their additional tier ones at par, following a government proposal to tax the interest paid on the instruments.

Dutch residential property company Vesteda offered euro corporate bond investors the first deal of July on Tuesday when it sold a €500m eight year trade to help refinance its acquisition of the Amstel Tower apartment block in Amsterdam.

The Dutch government is planning to get rid of tax deductions for coupons on the tier one securities issued by banks and insurers, after the European Commission said that their tax treatment could raise state aid concerns.

Dutch food and biochemical company Corbion has refinanced its revolving facility with a five year loan with an interest rate linked to the company’s year-on-year sustainability performance.

American agricultural equipment firm AGCO has launched a Schuldschein transaction, following in the footsteps of Sherwin Williams and Wabco.

Ghana Coco Board (Cocobod) has closed the senior syndication of its $1.3bn one year annual pre-export finance facility, with a bank meeting due to be held on Monday, June 25.