Santander
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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. -
Crédit Agricole said on Wednesday that it has reorganised the senior management of its corporate and investment bank, and hired Jacques Ripoll, former head of global banking and markets at Santander, as its new CIB chief executive.
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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.
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European banks remain divided on whether to make their minimum requirements for own funds and eligible liabilities (MREL) public, as the Single Resolution Board presses on with informing financial institutions of their first sets of binding targets.
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Spain, fresh from its success with a 10 year benchmark on Tuesday, is eyeing a return to the long end of the syndicated inflation linker market towards the end of the year.
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Spain’s Masmovil has completed a second round of refinancing on its bank loans, shaving a further 100bp off the cost of its total debt pile and ramping up the size to €831m.
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Two euro borrowers launched benchmarks on Wednesday, sharing the SSA euro market. While both secured successful deals, one found the market tougher going, as investors pushed back.
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A pair of borrowers have hit screens for euro benchmarks to be sold during Tuesday’s session, but another nipped in ahead of the rush to price on Monday.
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Santander said it has hired two bankers, one from Deutsche Bank and one from Goldman Sachs, into its US CIB unit, bulking up its efforts to sell debt and derivative products to US firms.
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Spanish electricity utility Iberdrola has been one of the leading corporate issuers of green bonds and, on Thursday, it took its total green issuance to more than €7bn with its latest offering.
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Coface Poland Factoring has signed a €300m-equivalent syndicated loan to partly replace bilateral credit lines, stretching out the average debt maturity for the Polish subsidiary of the French trade insurance company.
