Santander

Abengoa is negotiating with five banks and Spain's government for a new €1.5bn credit facility, as the Spanish establishment has rallied round to save the debt-laden renewable energy engineering group, writes Victor Jimenez.

Skandinaviska Enskilda Banken and ANZ took advantage of strong funding conditions in dollars this week, despite a drop in demand for floaters.

Anheuser-Busch InBev, the Belgian-Brazilian brewer, mandated a group of 21 banks to provide its $75bn loan facility, but there was no coordinator as AB InBev took an active role in arranging the transaction.

Banco Popular Español became the first peripheral bank to launch senior debt in just under two months on Thursday, paying around 20bp of new issue concession to tap its outstanding February 2020 bonds.

Anheuser-Busch InBev, the Belgian-Brazilian brewer, submitted a final recommended offer for SABMiller on Wednesday, having raised a record $75bn loan to support the transaction.

Anheuser-Busch InBev has secured a $75bn syndicated loan, which has been described as “the world’s largest ever loan”, for its £71bn recommended acquisition of SABMiller.

Santander has completed an overhaul of its London loans team, with four new hires that it hopes will lead the bank to the forefront of Europe’s corporate finance business. The Spanish bank wants a bigger role in high level acquisition finance in western Europe and is also investing in CIB divisions in Asia, eastern Europe and the US.

Swiss foods group Nestlé issued a €500m no-grow bond on Wednesday, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

Several of Europe’s largest banks, including Santander and Credit Suisse, have been raising equity capital this year to satisfy regulators. But FIG ECM specialists believe this is coming to an end. Taking its place will be the re-privatisations of nationalised banks, and on the horizon, a return of mergers among banks. Olivier Holmey reports.

Issuers, investors and regulators are paying attention to senior unsecured bank debt, and the tier two bonds that stand below them in the capital structure, like never before. Nick Jacob reports.

Swiss foods group Nestlé issued a €500m no-grow bond today, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

Autoroutes Paris-Rhin-Rhône, the French motorways group, won a €4.9bn order book for a €500m eight year no-grow bond issue on Thursday, as investors returned in force to the primary market.