Société Générale
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Metalloinvest, the Russian iron miner, has obtained a €267m export credit agency agreement from international banks, but is still in talks on a separate syndicated loan. -
MFB Hungarian Development Bank (MFB) has mandated for its first euro deal in four years, and kicks off investor meetings next week.
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Salzgitter, a German maker of steel products and tubes with a €2bn market cap, returned to the equity-linked debt market on Tuesday with a €168m deal that was priced at very aggressive terms, reflecting investors’ eager demand for convertibles.
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Uralkali has added $100m to a loan it recently signed with international banks, demonstrating the benefit for Russian borrowers of including an accordion feature.
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Anhui Transportation Holding Group (Anhui Transport) has mandated a sole global co-ordinator to arrange a series of investor meetings ahead of its debut outing to the dollar bond market. Haikou Meilan, meanwhile, is preparing a dim sum deal.
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The bookbuild for the IPO of Spie —the French electrical, telecoms and technical services company — was launched on Monday June 1, and was covered on the first day.
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Europcar began premarketing its IPO on Monday, seeking to raise €475m of primary proceeds to cut a €2.2bn debt load, as well as some secondary proceeds to be decided later.
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Nexans, the French cable manufacturer, became on Friday the first double-B rated issuer to pull a European high yield bond this year. It cited unfavourable pricing and volatility in the market.
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La Poste, France’s state postal service, returned to the bond market on Tuesday with its first benchmark issue since 2012. The bond was priced tightly to its curve, but the book size was not disclosed.
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French car rental company Europcar, which last week filed for an IPO, received on Wednesday strong demand for its €475m refinancing offer.
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CMA CGM, the French container shipping company, is offering $800m-equivalent of senior unsecured notes to refinance some of its old bonds, after being upgraded by Moody’s to B1.
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The European Financial Stability Facility enjoyed a calmer euro market compared to the last few weeks with its second benchmark this month on Wednesday — but still opted for a defensive tenor.
