Société Générale
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German jewellery chain Christ is allocating its €220m acquisition loan this week, in a bank-friendly deal that was priced in line with guidance.
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Spie, the French engineering and communications firm, has launched a €725m loan to refinance its debt structure and pay a dividend. -
Spie, the French engineering and communications firm, has launched a €725m loan to refinance its debt structure and pay a dividend.
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The Republic of Indonesia has picked the banks that will sit on its bond panel next year, dropping one bank and appointing two new members.
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German jewellery chain Christ is allocating its €220m acquisition loan this week, in a bank-friendly deal that was priced in line with guidance.
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Instituto de Crédito Oficial saved precious basis points on Tuesday, printing a short two year deal against a backdrop of falling periphery eurozone sovereign yields following some very dovish comments by European Central Bank president Mario Draghi late last week — despite some ECB officials being more hawkish since. Spain also benefitted at a bill auction the same day, while Portugal lined up an exchange offer and Italy unveiled its target for a bond auction on Thursday.
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Thursday was a busy day for European investment grade corporate bonds, with €4.9bn issued in euros and sterling. But with a great deal of diversity of issuers, maturities and currencies, the market had more appetite for some than for others.
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Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing is progressing well, with the deal already receiving $750m worth of commitments, said a banker. Nine banks have committed so far and a handful more are expected to join before close.
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Three issuers from France, Belgium and Germany raised €2.5bn in the covered bond market this week, and another €1bn transaction was expected from a Finnish issuer on Friday. The deals were all remarkable for the fact that the funding levels set new records for all issuers as the ECB’s allocation continued to grow, squeezing out other investors.
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Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buy-out by Oak Hill Capital Partners.
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Turbulence hit a subordinated debt market that seemed to be about to hit its stride this week, as deals from Deutsche Bank and Erste Group slumped in the secondary market straight after sale.
