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  • Guardian Europe, the European arm of US glass manufacturer Guardian Industries Corporation, has approached banks for a Eu450m four year deal.
  • Market Commentary
  • Marubeni Oil and Gas UK and Marubeni Oil and Gas US Inc, together with Energy North Sea, have approached banks for a $400m seven year senior secured borrowing base facility.
  • Tony Dullaghan and Rosemary Lloyd, former ECP traders at JP Morgan, started work on Bank of America's ECP desk on Monday. Dullaghan has been appointed head of ECP trading and Lloyd is working on the sales desk.
  • FIXED INCOME
  • The rise in Treasury yields this week, caused by renewed fears of rising inflation and the possibility of a sharp tightening of monetary policy from the Federal Open Market Committee, sparked a $17bn surge of issuance in the US markets.
  • Rating: Aa1/AA-/AA-
  • Atlas Copco is seeking a club syndication for a seven year $600m multi-currency revolving credit. SEB is the coordinating mandated lead arranger and other core relationship banks will be invited as mandated lead arrangers.
  • Syndication of the recapitalisation of EurotaxGlass has closed oversubscribed. Sole mandated lead arranger BNP Paribas arranged the Eu165m in all senior debt, which consists of an Eu80m seven year term loan 'A' paying 225bp, a Eu35m eight year term loan 'B' that pays 275bp and a Eu35m nine year term loan 'C' paying 325bp. The revolver is for Eu15m, seven years and has a margin of 225bp.
  • Having finished 2003 and 2004 in the top slot in tables one and two, it has taken Citigroup two months to reclaim that position in table one this year.
  • The NT$1bn five year term loan for Arima Display Corp was launched last Friday via mandated arranger Taishin International Bank.
  • Rating: A3/A-/A-