Santander
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France's Danone has completed syndication of $13.1bn of loans to fund the $12.5bn acquisition of North American organic food and drinks company White Wave. But there might not be many more jumbo deals this year, as political volatility looks set to hang over the M&A market for a little longer, writes Robert Cooke. -
Energias de Portugal made an opportunistic grab for euros on Thursday, proving that even as August begins, healthy order books and negative new issue premiums are still available for corporate bond issuers.
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Orbit Group is holding investor update calls ahead of a planned issuance of £50m of bonds that it had retained from a March deal.
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Jean-Pierre Mustier’s had a busy first month at UniCredit. Already, the new CEO has launched a strategic review, sold 10% each of FinecoBank and Bank Pekao, made a host of senior appointments and scrapped two-year-old talks with Santander about combining their asset management businesses.
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Euro high yield issuance has largely brushed off concerns about the UK's vote to leave the European Union, but despite a surge of deals some corporates are still holding back from the market.
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Uncertainty over the UK’s future following its vote to leave the European Union and the loss of its last triple-A rating failed to make any dent in demand for the first Gilt syndication since Brexit. Instead, the only real effect was the rock bottom yield at which the sovereign was able to issue.
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Banco Santander’s exposure to the UK came at a steep price in its results for the first half of 2016, with profits down by 32% despite growing lending and customer funds.
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The house cleaning started by UniCredit’s new broom, Jean-Pierre Mustier, has thrown up a new IPO prospect: Pioneer Investments, the firm's asset management business, which it had been negotiating to merge with Santander Asset Management.
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The Gilt market on Tuesday once again highlighted its immunity to concerns around the UK's vote to leave the EU, as the Debt Management Office conducted a trademark smooth execution with a tap of its 0.125% November 2065 inflation-linked bond.
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European Central Bank president Mario Draghi has in effect told market participants to come back after summer if they want to see any further monetary stimulus — but belief that such stimulus is on the way helped a trio of euro deals this week.
