Search results for

Rating: Aaa/AAA Amount: $1bn

Amount: ¥13bn Rating: Moody's

The mandate to arrange the $600m-$1bn facility for Outokumpu should be awarded imminently. The mandated arranger group is understood to comprise three to five banks. For further details see EuroWeek 787.

BBVA, BNP Paribas, Fortis Bank, JP Morgan and Natexis Banques Populaires this week won the mandate to arrange a Eu1.5bn debut financing for steel company Arcelor. The revolving credit facility will be equally split between a 364 day and a five year tranche. Pricing will be between 30bp-40bp over Euribor, and will ratchet on a ratings grid.

Rating: Aaa/AAA/AAA Amount: Huf12bn

Rating: A2/A Amount: Eu500m

UK retailer GUS this week capitalised on strong name recognition to raise the equivalent of about £750m in the euro and sterling bond markets through a Eu600m long four year transaction and a £350m December 2013 bond lead managed by Barclays Capital, BNP Paribas, HSBC and RBS. Highlighting the pulling power of a domestic name for UK investors, GUS, which is rated Baa1/BBB+, was able to increase its sterling bond from £200m to £350m and price at Gilts plus 138bp, 2bp tighter than price guidance, while German retailer Metro (Baa1/BBB) failed to add a sterling tranche to its euro financing and global satellite company SES (Baa2/BBB) failed to launch either tranche of its projected euro/sterling bond.

Rating: A1/A-/A+ Amount: Eu150m

Mandated arrangers Allied Irish Bank, Bank of Ireland, Barclays Bank, Deutsche Bank (joint bookrunner) and Goldman Sachs (joint bookrunner) are collecting commitments for the Eu2.4bn loan for fixed line telco Eircom. The deadline for banks wanting to commit to the facility is February 21. The deal will be wrapped up by the end of February.

Financial repackaged issuance has begun the year in style. The 193 repackaged notes issued so far in 2003 make SPVs the fourth most frequent issuer type behind the dominant private banks, public banks and public finance sector. The financial repackaged sector has long carried potential. More innovations have been seen each year and investors have become more sophisticated and targeted in the risks they want to take or avoid. But now that potential is becoming a reality.

Mandated lead arrangers Barclays (bookrunner), BNP Paribas (bookrunner), Crédit Agricole Indosuez and IntesaBci hope to launch syndication of the Eu900m acquisition facility for Energia Italiana, Electrabel and Acea's purchase of Interpower next week. Interpower is being sold off by Enel. UBM and Royal Bank of Scotland have committed as sub-underwriters, while BNL and Banca Monte dei Paschi di Siena joined the mandated lead arrangers before syndication was launched.

Jamaica will brave the euro markets in the coming weeks with a five year issue of up to Eu200m. Portfolio diversification, a marketing tool used so successfully by Jamaica and other central American and Caribbean borrowers in the US, will be the main pitch used by underwriters Commerzbank and Deutsche Bank to draw institutional investors.