Société Générale
-
Lithuania has released initial price thoughts for a €1bn 12 year bond at 115bp over mid-swaps, offering a 25bp new issue premium, in line with the pick-up offered at the same stage by Romania on Tuesday. Bankers away from the deal said that they expect 10bp-15bp of tightening before the deal prints.
-
Three issuers, two of them US banks fresh from earnings releases, announced deals to a buoyant euro denominated senior unsecured market on Wednesday.
-
Despite the virtual shutdown of the Russian international loan market, borrowers from the country continue to explore the possibility of deals. Two companies, Otkritie Financial Corp Bank (formerly Nomos Bank) and Acron, have been in discussion recently, said loans bankers.
-
Romania has released initial price thoughts for a 10 year euro benchmark at 200bp over mid-swaps, representing a pick-up of 20bp over the country’s outstanding curve, according to an origination official away from the deal.
-
Société Générale has hired Karim El Zein for its Middle East DCM team. El Zein will be based in Dubai.
-
The syndication of German pharmaceutical company Merck’s $15.6bn of loans for its acquisition of US life sciences firm Sigma-Aldrich was the latest in a series of transatlantic M&A related loans for investment grade German borrowers to close oversubscribed. Banks have plenty of cash and are keen to use it, but a trend for large tickets and slim banking groups means there may not be enough to go around. -
-
The syndication of German pharmaceutical company Merck’s $15.6bn of loans for its acquisition of US life sciences firm Sigma-Aldrich has closed oversubscribed, with banks eager to accept a large portion of the bridge facilities.
-
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.
-
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.
-
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.
