Société Générale
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Borrowers' continued confidence in the leveraged loans market is affecting deal structure, with private healthcare operators Générale de Santé and Quirón structuring their respective €1.1bn and €2.15bn deals to target term loan ‘B’s to banks, who usually prefer the amortising payments of term loan ‘A’s.
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Grupo Hospitalario Quirón, the Spanish private hospital operator, has launched a €2.15bn loan to back its merger with rival chain Idcsalud, owned by CVC.
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French ingredients company Naturex signed €320m of loan agreements on Thursday, part of which will be used to finance its acquisition of US company Vegetable Juices.
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French supermarket chain Carrefour is in the process of amending and extending a three year credit facility it agreed in June 2013.
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Italian defence contractor Finmeccanica has signed a €2.2bn revolving credit facility, €200m smaller than the 2010 facility being refinanced.
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French hotel chain B&B Hotels has allocated a €175m senior secured loan that will refinance existing debt.
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Italian defence contractor Finmeccanica has signed a €2.2bn revolving credit facility, €200m smaller than the 2010 facility being refinanced.
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CRH, the Irish building materials company, brought its first bond issue of the year on Wednesday, and underlined the continued improvement in its funding terms with a marked cut in its spread and coupon since its last offering.
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Searing investor demand for yield has set the stage for a widely expected second visit of the year to the bond market by Greece in the wake of a series of spread busting, oversubscribed deals and auctions for sovereigns and regions in the eurozone periphery this week.
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Galp Energia, the Portuguese oil and gas company, issued on Monday its first bond since November, and was able to tighten the pricing to a slim new issue premium despite cool markets.
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Carrefour, the French supermarket group, launched its first bond issue on Monday for over a year. Despite markets being weaker than last week, the deal attracted a much bigger book than any of last week’s issues.
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