Société Générale
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German rented housing company Deutsche Annington has syndicated a €6.25bn bridge loan for its takeover of Luxembourg-based rival Gagfah. It is the largest real estate facility since 2008, according to Dealogic, but DA may only need a fraction of the facility.
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Host Europe, the German online hosting provider, expects to close books for its £535m loan for the acquisition of Intergenia by the middle of this week, after the consent process for the deal took longer than expected.
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Société Générale Corporate & Investment Banking has relocated Sadia Ricke from Paris to Hong Kong to take on the position of head of global finance for Asia Pacific, an appointment that came into effect on January 1 this year.
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Altice on January 30 achieved a successful sale for its €4.8bn-equivalent bond package backing its takeover of Portugal Telecom.
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China State Shipbuilding Corp is set to be the latest Asian issuer to tap the European bond market, after mandating banks for a debut which will be backed by a standby letter of credit (SBLC) from Bank of China.
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French investment company Wendel sold a €500m 12 year bond on Friday, having increased the deal in response to strong demand and favourable pricing.
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Corporate bond bankers were treading carefully in the immediate aftermath of the Greek general election won by anti-austerity party Syriza last Sunday, but by Tuesday new issues were attracting huge books and pricing at super-tight spreads, restoring confidence in the market.
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Syndication for Dutch grain trader Nidera’s $800m revolving credit facility will close on February 17, according to a banker on the deal.
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Pelabuhan Indonesia II (Pelindo II) surprised loans bankers this week with its decision to limit a $1bn borrowing to just over half that amount, causing the cancellation of general syndication. This was just the latest twist for a loan that has been anything but straightforward, though the outcome is unlikely to hurt the borrower in the long run.
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European investment grade syndicated lending last year reached its highest volume since 2007, at $716.9bn, according to Dealogic data. More mergers and acquisitions are needed to maintain such high volumes in 2015, bankers agree, and QE could be a driving force for M&A.
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Caisse d'Amortissement De La Dette Sociale has set guidance and opened books on its debut offshore renminbi deal, which could be priced as early as Wednesday.
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The senior market was back in flow on Tuesday after a brief hiatus at the start of the week as market participants evaluated the results of the Greek election. A Syriza victory in the election was not enough to dull demand for FIG paper, with both Morgan Stanley and Rabobank drawing large order books for long dated deals.