Search results for

Financial services company ED&F Man has increased its $1.5bn loan through Barclays (bookrunner), Fortis Bank, Rabobank (bookrunner), Royal Bank of Scotland (bookrunner) and Société Générale to $1.954bn following an oversubscription.

Banco Fibra has increased the size of it EMTN programme from $250m to $500m.

Following Fitch's downgrading of Iceland's long term credit rating last Tuesday, and the subsequent shake-up in the foreign exchange markets, investors have been busy in the non-core and emerging currency markets this week.

Mole in the Hole What was Frank Czichowski, treasurer of KfW, doing in a seminar about hybrid capital at the Euromoney Bond Congress this week?

The Eu29.1bn facility supporting German utility E.On's takeover of Spanish power company Endesa will be launched next week by bookrunners Citigroup, Deutsche Bank, HSBC and JP Morgan.

South Africa's state-owned electricity company, Eskom, successfully returned to the international bond markets with its largest and tightest euro deal on Tuesday when Calyon, JP Morgan and local player Regiments priced Eu500m of seven year bonds with a coupon of 4% and spread of 50bp over mid-swaps. The euro bond is the first from the A2/BBB+ rated borrower since it paid 5.5% — equivalent to 200bp over mid-swaps at launch — for its Eu200m three year bond in October 2002 through Crédit Agricole Indosuez and Dresdner Kleinwort Wasserstein.

Rating: Aaa/AAA/AAA

German insurer Allianz this week concluded the financing for its acquisition of Riunione Adriatica di Sicurtà with a Eu800m retail targeted tier one issue — its first such deal in euros.

Equity bank of the year

Rating: Aaa/AAA/AAA

Financial institutions stole the show in the credit markets this week with a plethora of deals, while players in the European corporate bond market squabbled about investor protection.

Financial institutions stole the show in the credit markets this week with a plethora of deals, while players in the European corporate bond market squabbled about investor protection.