Société Générale
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Sandvik and Sixt both launched sub-benchmark bonds today, after Sandvik had roadshowed on Monday and Tuesday and Sixt had held a conference call with investors on Tuesday morning. -
Alstom Auxiliary Components has widened price guidance on the first lien tranche of its €630m-equivalent leveraged loan facility by up to 75bp.
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Sovereign, supranational and agency bankers are braced for a busy week of issuance, as demand for paper soars in the wake of the European Central Bank’s unveiling of a series of measures which have butchered rates last Thursday.
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Korean issuance is picking up in the wake of the Republic of Korea’s dual tranche offering on June 3. Latest out the blocks include Korea National Oil Corp. which is meeting investors for a euro-denominated bond, and Korea Gas Corp, which is looking at dollars.
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Richad Soundardjee became Société Générale’s chief region officer for the Middle East and chief executive officer of its Dubai office in October, having previously headed global capital markets for the CEEMEA region at the bank. He spoke with GlobalCapital / IFIS’s Dan Alderson about SocGen’s plans for its Islamic finance business with a particular focus on structured finance — and how those two areas of business will play a part in the region’s development.
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Indian Oil launched its $650m five year loan into syndication on Friday after adding five mandated lead arrangers and bookrunners to the existing nine.
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Commodities trader Gunvor Singapore, a wholly-owned subsidiary of Gunvor Group, has closed its syndicated facility at a much larger than targeted size of $536.6m, after it was oversubscribed in general syndication.
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OP Mortgage Bank on Wednesday returned for the second time this year to issue a €1bn five year covered bond. Despite pricing at the tightest spread for any Finnish transaction in the last five years and with a negligible new issue premium, it still attracted a robust level of oversubscription.
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The European leveraged loan market, usually the weaker rival of its larger US counterpart, is punching above its weight as US mutual funds have faltered in their enthusiasm for buy-out debt.
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Gates Global - Sport Group - Intralot - Homair Vacances
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Only two issuers tapped the senior market this week despite syndicate bankers flagging up the days leading up to Thursday’s European Central Bank meeting as a prime window for issuance. Barclays was rewarded with a comfortably oversubscribed book for a long end print.
