Search results for

Amount: Eu150m Rating: Moody's/Fitch

International Flavors & Fragrances (Luxembourg) Sárl has mandated ABN Amro and Barclays to arrange its Eu300m multi-currency revolver. The five year deal carries a margin of 55bp over Euribor which moves on a ratings grid.

Chicago-based Madison Dear-born Partners (MDP) this week made a pre-conditional cash offer of Eu2.15 per share for Irish paper-based packaging company Jefferson Smurfit Group (JSG). The price is a 38% premium to the JSG share price before the offer and values the company at around Eu3.7bn ($3.5bn).

A M$160m term loan for Borneo Samudra has been completed. The borrower owns an oil palm plantation. The deal is divided between a M$100m five year portion and a M$60m seven year tranche. Banks received an all-in fee of 145bp over cost of funds.

UK mortgage lender Northern Rock hit the market hard last Friday with another igneous rock, momentarily replacing the well known Granite name with Dolerite, a new master trust. The group's first entry into the commercial mortgage backed market was greeted warmly by investors as Citigroup/SSSB offered $600m and £83.75m of notes backed by a diverse portfolio of properties.

Compiled by Richard Favis, RBC Capital Markets, Johannesburg Tel: +27 11 784 5065

Mediobanca has added three banks to the named dealer panel off its euro5 billion ($4.79 billion) Euro-MTN programme. They are Dresdner Kleinwort Wasserstein, Goldman Sachs and Salomon Smith Barney. The programme has $752.73 million-worth of debt outstanding off 24 trades, most of which are denominated in euro.

Even as Rick Stoddard, the head of Merrill Lynch's issuer client group for Asia, prepares to leave, the bank has wasted no time in making three new hires to help target the US bank's client and issuer base. Raymond Wu and Leenor Lee are joining Merrill Lynch's investor client group, which is responsible for marketing and selling debt instruments, including derivatives.

Metropolitan Life Global Funding I has signed a $3 billion global note issuance programme and Credit Suisse First Boston (CSFB) is the arranger. The European dealer group is ABN Amro, Bank One, Bear Stearns, CSFB, Deutsche Bank, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Schroder Salomon Smith Barney and UBS Warburg. The US counterpart of each bank is listed as a US dealer off the programme. Metropolitan Life is one of the biggest life insurance companies in the US and also offers financial services. It serves about 10 million individual households and companies, including 88 of the Fortune 100 biggest companies, with approximately 33 million employees.

In the latest wave of IPOs to hit the Swedish market, Nobia and Ballingslöv, two Swedish kitchen manufacturers, completed their IPOs on the Stockholm stock exchange this week with mixed results. Nobia priced its 20m share offering, some 35% of the company, at Skr78. This was at the lower end of the Skr76-Skr92 price range for the offering. But the shares slumped on their first day of trading on Wednesday, closing at Skr72, down over 7.5%.

EuroWeek understands that Roy Fraser has resigned from Dresdner Kleinwort Wasserstein after three years in which he headed frequent borrowers and sterling new issues, reporting to global syndicate head Sean Park. He joined from HSBC in December 1999. Peter Stiles has reappeared in the loan market after having left the syndications team of Nordea last year.

Rating: Aa3/AA-/AA Amount: $300m