Rabobank
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Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April. -
A pair of Dutch public sector borrowers are set to come to market with socially responsible investment bonds. The deals form the first wave of an approaching flood of SSA SRI borrowing.
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A group of four lenders has joined a $300m loan for China Modern Dairy during general syndication. The newcomers were not scaled back from their initial commitments.
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Buoyed by Wind Tre’s landmark bond deal on Tuesday, European high yield participants say the market has shown there is demand for more jumbo deals — like Refresco’s €2.4bn buyout debt.
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Two more public sector borrowers are set to add to the flurry of socially responsible investments dominating the upcoming SSA pipeline late in the year.
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The former head of treasury at Rabobank London is set to retire at the end of the year.
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Dutch grid operator Stedin, formerly part of Eneco, was one of several issuers that met with investors before announcing deals this week. It had been discussing a sub-benchmark three year to five year floating rate note and a benchmark eight year fixed rate note, for what was essentially its bond market debut.
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Lebanon energy trading company BB Energy signed a $225m revolving credit facility (RCF) on Wednesday to refinance a $200m facility from last year.
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All four investment grade benchmark corporate bond deals that priced last week were from utilities. On Tuesday, Italian multi-services utility, Iren, and Dutch grid operator, Stedin, took the count to six.
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CVC has made two unitranche loans in the Netherlands, to Voogd & Voogd and Berning, amid busy activity in leveraged debt markets of all kinds.
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Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.
