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  • Rating: Aa2/AA Amount: Eu400m
  • Escalating tension between North Korea and the US may force the Republic of Korea to delay its $1bn10 year benchmark. The sovereign had planned to bring its first major deal for five years in April. However, aggressive actions by North Korea - including a test missile launch off its eastern coast last week, the interception of a US spy plane by four of its fighter jets and the resumption of its nuclear programme - has unnerved international investors.
  • Guarantor: Caterpillar International Finance plc Rating: A2/A+
  • Deutsche Bank regained its position at the top of table one this week, once again exchanging positions with Citigroup/SSSB. The biggest mover in both tables was Merrill Lynch, which was absent last week. Merrill was active for a number of dealers. Among its trades was a $100m note for NTT DoCoMo, the first off the telco's $10bn EuroMTN programme signed in October 2001 and rated Aa1 by Moody's.
  • Rating: A3 Amount: Eu200m (fungible with Eu300m issue launched 18/06/02)
  • Mandated arrangers Bank Austria Creditanstalt, BayernLB and Sumitomo will close syndication of the Eu150m five year term loan for Privredna Banka Zagreb (PBZ) today (Friday). Banks will be signed in during the week beginning March 17. The deal has been oversubscribed and the deal is to be increased to over Eu170m.
  • ABN Amro, Citigroup/SSSB, Commerzbank, Deutsche Bank, JP Morgan and HSBC launched DaimlerChrysler's long awaited $13bn global revolver into syndication yesterday (Thursday). The top tickets on offer are chunky and ask a lot from relationship lenders.
  • Mandated arranger Nordea has signed banks into the Eu100m five year revolver for Danish Crown. The deal was oversubscribed and increased to Eu150m.
  • Bank of America, Deutsche Bank, Fleet Boston, Scotia Bank and SG are arranging a $1.15bn loan for the world's largest fresh fruit and vegetable company, Dole. Debt is split into a $300m revolver, which is divided into a $150m five year revolver and a $150m equivalent five year multi-currency piece, a $250m five year term loan 'A' and a $600m 5-1/2 year term loan 'B'. The revolvers and term loan 'A' offer margins of 325bp over Libor while term loan 'B' pays 355bp.
  • A $1bn loan to the Idku LNG Plant Project special purpose vehicle (SPV) in Egypt was launched into an initial stage of syndication this week. The SPV is owned by BG International (which has a stake of 35.5%), Edison International (35.5%) EGPC (12%) Egas (12%) and Gaz de France (5%).