Search results for

Barclays, Citigroup/SSSB and Deutsche Bank have closed syndication of the £600m five year revolver for BSkyB. The deal was well supported by the borrower's existing lenders. These institutions will be signed in on March 20.

The high yield market was revived this week by a Eu165m 2010 bond market debut by Swiss chocolate maker Barry Callebaut, the first European high yield offering this year to be priced through 10%. The deal, led by Credit Suisse First Boston, was increased and priced at the tighter end of guidance, and traded up in the secondary market. The issue highlights an increase in high yield market activity this week and a more positive tone in the market.

Double-A issuance continued its strong performance in 2003 this week, eclipsing other ratings with a 48% share of the market. Triple-A names dropped off sharply. The most active issuer in the double-A category was SGA Société Générale Acceptance. The French financial used its Eu32bn EuroMTN programme to issue 17 notes for $546m.

Despite criticism for featuring under-pricing and oversized tickets, the $6.1bn loan for Cadbury Schweppes will be closed fully subscribed. Around 10 banks have committed in general syndication and although the mandated banks and senior lenders may have reduced exposure to expected levels, they are likely to land at the upper end of expectations.

Rating: BBB Amount: Eu100m

Gartmore Group announced this week that it was restructuring the management of its investment business following the resignation of Peter Chambers, the global chief investment officer of Gartmore Group and Gartmore Investment Management. Chambers oversaw both the fixed income and equity products, but Gartmore has decided to split these roles.

Rating: Aa1/AA- Amount: $1.5bn global bond

Rating: A- (S&P) Amount: Eu170m

Indebted Swiss chemicals group Clariant has decided against a Sfr600m capital increase, despite admitting it was considering an equity issue just two weeks ago. The company, which is struggling under Sfr3.5bn of debt and made a Sfr648m loss last year, instead replaced chief executive Reinhard Handte. Former deputy chief executive Roland Losser will replace Handte.

Rating: Aa1/AA- Amount: $1bn (fungible with $2bn issue launched 23/01/03)

After a good start to the month, Citigroup/SSSB has established a dominant position in both tables this week. The US house's deals take them over $2bn clear of Deutsche Bank in table one with over double the amount of trades. Citi has used at least seven currencies to issue notes, with over $2bn traded in dollars. But it has also been active for a number of issuers in sterling, including BBVA Global Finance, which came to market with three notes. One of these was a £50m note that matures in August next year paying 2bp over three month Libor.

Rating: Aaa/AAA Amount: C$100m