Société Générale
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Turkish Yapi ve Kredi Bankasi astonished the market on Wednesday by seeming to accomplish what looked like an impossible feat — pricing a $500m five year bond in a day where its curve was sent 25bp wider in spread terms by US Treasury volatility.
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Turkish Yapi ve Kredi Bankasi has released initial price guidance of 375bp over mid-swaps for a dollar five year benchmark bond, offering around a 20bp-30bp premium over its own interpolated curve, according to a banker away from the deal.
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A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads. -
Commodity trader Gunvor has launched a $900m dual tranche revolving credit facility into syndication. The loan replaces one tranche of a deal signed in 2013.
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Loan Ranger recently had occasion to put his grey cells through their paces at a pub quiz put on by a major French bank last week.
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Unibail-Rodamco, the French property company, achieved tight pricing on its latest eight year euro issue thanks to strong demand from across continental Europe.
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The pace of syndicated sovereign supply from the eurozone periphery is set to pick up as Ireland, Greece and Italy launch new issues over the next few weeks. The first two have indicated that syndications could come in the final quarter, while Italy launches the next line of its BTP Italia domestic inflation-linked product in two weeks’ time – when it will be hoping to repeat the success of Spain, which added to its linker curve this week.
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Romania is planning to issue a long euro benchmark and has picked four banks for the deal.
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United Internet — Vitol — Mol
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Romania is planning to issue a long euro benchmark and has picked four banks for the deal.
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Sinobiz Holdings has mandated a group of 11 banks to lead its latest $1.5bn commodity prepayment financing and refinancing loan.
