Search results for

Rating: Aaa/AA/AAA

A Eu75m three year revolver for Fionia Bank was signed on August 9 via mandated lead arranger BayernLB. The loan was launched at Eu50m, but after an oversubscription of 50% it was increased.

Rating: Aa3/AA-/AA-

Rating: Aa3/AA-

Rating: Aaa/AAA

Let?s hear a round of applause for Michael Diekmann, the chief executive of Munich-based insurance giant, Allianz. Since Diekmann took over the reins, the once mighty Allianz has regained its composure, but it hasn?t been downhill all the way for the new CEO. There has been a significant turnaround in the core insurance business, but Dresdner Bank is still walking with a pronounced limp and the investment banking subsidiary, Dresdner Kleinwort Wasserstein, cannot expect bumper profits in markets which are distinctly unfriendly.

Flows in the dollar swap market were robust this week ? particularly considering that the market is at the height of the holiday season. The euro market, though shaken up by the non-farm payroll data a week ago and the Federal Open Markets Committee (FMOC) meeting this week, has seen more attenuated business, report dealers.

Oh dear! Just as we thought it was safe for CSFB to put its foot back into the water, the firm lost one of its waterwings. What a blow for Brady Dougan, the new chief executive, who had his feet under the desk and was beginning to enjoy himself. The CSFB media machine was making all of the right noises and, as the youngest chief executive on Wall Street, surely it wouldn?t be long before Brady was on the front cover of Time magazine or endorsing a new breakfast cereal on TV?

Trading flows have been strong in the first two weeks of August ? traditionally a slow period for new business.

Last week?s announcement by the Italian finance ministry that it will sell up to a 20% stake in Italian electricity company Enel, worth Eu7.5bn, could prompt a wave of other state disposals by European governments, say equity bankers.

Compiled by Chris Milsom, HSBC Bank plc, London

Bacardi, the Bermuda-based drinks company, has mandated ABN Amro, Bank of America, Barclays and Citigroup for its new $1bn debt facility. Funds from the transaction will refinance existing debt and support the $2bn acquisition of the Grey Goose vodka brand. There has been a lack of event-driven deals of this kind in the investment grade loan market this year. Bankers had been optimistic at the start of the year after Sanofi-Synthélabo?s Eu16bn facility for the acquisition of pharmaceuticals rival Aventis, but their hopes were dashed as supply has failed to materialise.