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  • The Eu1.95m revolver for Teollisuuden Voima Oy (TVO) has signed via mandated lead arrangers BayernLB, BNP Paribas, Handelsbanken, JP Morgan and Nordea. The borrower has reduced the size of the facility from Eu2.5bn because other funding sources have become available.
  • The £308m in senior debt supporting the buy-out of Fitness First by Cinven has closed.
  • The Office of Federal Housing Enterprise Oversight (OFHEO), regulator of Fannie Mae and Freddie Mac, is to fine two former Freddie Mac executives for their role in the company's accounting difficulties.
  • Hyundai Motor Co returned to the bond market with a $400m five year issue on Tuesday, expunging the memory of its failure to price a transaction of the same size four weeks ago.
  • The European Bank for Reconstruction and Development (EBRD) and nine other banks are providing the first syndicated loan in Bosnia and Herzegovina to Raiffeisen Bank d.d. Bosna i Hercegovina (RB) Sarajevo.
  • Rating: Aa1/AAA (Moody’s/Fitch)
  • British Plaster Board (BPB) has mandated six or seven banks to arrange its club deal which should be signed on Monday.
  • Investors in euro and sterling corporate bonds are looking forward to a happy new year in 2004. Most expect credit spreads to remain at the tight levels that investor appetite ground them down to this year.
  • Guarantor: Caja Duero SA
  • Calpers, the leading US institutional investor, this week launched a class action lawsuit against the New York Stock Exchange and 13 floor-trading firms including FleetBoston and Goldman Sachs.
  • Bond bankers heaved a sigh of relief this week that a tough, if profitable, year is coming to a close. Competition for mandates has rarely been keener and the consensus is that with redemptions set to be lower next year, the market will become even tighter in 2004.
  • Bond bankers heaved a sigh of relief this week that a tough, if profitable, year is coming to a close. Competition for mandates has rarely been keener and the consensus is that with redemptions set to be lower next year, the market will become even tighter in 2004.