GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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  • Czech Republic The City of Prague has requested bids for a Eu200m financing plan, due by March 18, with a maturity of no less than 10 years.
  • Argentina
  • * Canadian Imperial Bank of Commerce
  • * European Investment Bank
  • GERMAN finance minister Oskar Lafontaine's surprise resignation late Thursday heralded a new dawn for the euro as financial markets were quick to reassess the outlook for the currency and for interest rates. The euro jumped over two cents against the dollar and the Bund future rose a full point in the heady atmosphere, before falling back. The yield on the 3.75% January 2009 Bund briefly dipped below the 4% threshold, signalling renewed optimism in the European project.
  • South Africa Absa Bank, Barclays, Nedbank and Standard Bank London Limited (facility agent) have closed the club-style syndication of the $55m three year term loan for LTA International.
  • LEAD arrangers of the Hellenic Republic's $500m five year facility have received an excellent response from potential co-arrangers. They have been offered $25m on a take-and-hold basis, although one bank has already offered $50m. The arrangers are Bank of Tokyo-Mitsubishi (bookrunner), Barclays Capital (information memorandum), Bayerische Landesbank Girozentrale (facility agent), Bank of Montreal (documentation agent), Commerzbank (bookrunner) and Paribas (bookrunner).
  • Eighteen months ago, high yield debt was one of the up and coming stars of the European capital markets. Issuance was doubling every year. Investors, bored of low interest rates, were flocking to bonds offering 10% or 11%. Virtually all of the deals were used to finance leveraged buy outs (LBOs) or build telephone networks, and there were very few double-B or single-B rated corporate issuers.
  • Dresdner Kleinwort Benson has won the role of adviser to the Croatian government for the privatisation of telecoms concern Hrvatske Telekomunikacije (HT). The Anglo-German bank beat off fierce competition from ABN Amro Rothschild, Credit Suisse First Boston, Deutsche Bank and Salomon Smith Barney, all of which were shortlisted from an original group of 14 bidders.