Search results for

The Export Credits Guarantee Department (ECGD), the UK export credit agency, is preparing a large synthetic securitisation to transfer some of its most concentrated exposures to the capital markets.

The Eurodollar sector took centre stage this week in the international bond markets as a quartet of triple-A rated issuers took advantage of the sell-off in the US Treasury market and the consequent increase in investor demand for top quality dollar product. And the market expects to see more triple-A candidates in the coming week.

The Export Credits Guarantee Department (ECGD), the UK export credit agency, is preparing a large synthetic securitisation to transfer some of its most concentrated exposures to the capital markets.

Mandated arrangers Dresdner Kleinwort Wasserstein, KBC, Standard Chartered and WestLB have launched syndication of the $50m 364 day term loan for Africa Export and Import Bank (Afreximbank). Natexis Banques Populaires, RZB and WGZ-Bank joined as arrangers before launch.

Rating: Aaa/AA+/AAA Amount: $750m

Eksportfinans this week capitalised on increased demand for dollar assets generated by the sell-off in the Treasury market, and enjoyed a warm reception for its $750m five year Eurodollar bond, lead managed by Citigroup/SSSB, Nomura and UBS Warburg.

Eksportfinans this week capitalised on increased demand for dollar assets generated by the sell-off in the Treasury market, and enjoyed a warm reception for its $750m five year Eurodollar bond, lead managed by Citigroup/SSSB, Nomura and UBS Warburg.

In a market congested with senior debt and subordinated facilities backing seven jumbo European buy-outs, syndication of the Eu2.222bn debt facilities backing the Wendel Consortium's buy-out of Legrand from French electrical company Schneider, which closed oversubscribed by 30%, was a triumph. However, a ruling this week by the European Union's second highest court that the EU should never have blocked Schneider's Eu5.4bn acquisition of Legrand last year could stop the buy-out and unravel the successfully syndicated debt.

Amount: Eu85m Rating: BBB (Fitch)

BNP, HSBC and SG will launch the Eu500m 364 day bridge facility for Cereol into syndication next week. Proceeds will support Cereolís merger with US agricultural foods company Bunge.

Rating: Aaa/AAA/AAA Amount: $2bn

Gaz de France, Europe's third largest gas company, has put its name to a long awaited Eu3bn EuroMTN programme. BNP Paribas has been confirmed as the arranger and is joined on the dealer panel by ABN Amro, Deutsche Bank, HSBC, Morgan Stanley and Natexis Banques Populaires. BNP was announced as the arranger in July, but it is thought that a volatile summer in the public bond markets pushed back the signing until conditions were right for an inaugural issue.