Spain

Spanish builder Neinor Homes will accelerate a land purchase programme after signing a new loan with JP Morgan, it said in a regulatory filing on Tuesday.

Aier Eye Hospital has raised €174m ($205m) from seven banks, helping fund its acquisition of Spanish company Clinica Baviera.

Eurazeo, the private equity firm, is offering a loan to fund the leveraged buyout of Spain’s Iberchem, a fragrance and flavour maker, from Magnum Capital.

Conditional books are already oversubscribed for the €240m term loan that funds the Ontario Teachers' Pension Plan's acquisition of Mémora, an Iberian funeral services provider.

Basque telecoms firm Euskaltel gained access to a third market in northern Spain after the acquisition of Telecable from Zegona Communications, which it is funding with loans and equity.

Mémora, the Spanish funeral services provider, has released price talk on a €300m loan package backing its buyout by the Ontario Teachers’ Pension Plan from 3i.

Santander’s €7bn rights issue finished 8.2 times covered, according to a filing with the CNMV, the Spanish regulator.

Spanish banks will return from their blackout periods this week but market participants believe it is unlikely that the country’s issuers will jump into issuing non-preferred senior debt in August.

Covered bond issuers in Europe’s periphery should wake up to the fact that current spread levels are artificially tight and unsustainable. The first bank that recognises and takes advantage of this will have a distinct advantage over its competitors.

Permira is selling its 33% stake in Cortefiel, the Spanish retailer, to the group's other two owners, CVC and PAI Partners. The deal includes a debt restructuring and ends rumours of an IPO.

Fitch has revised its outlook on Spain’s credit rating to positive despite the sovereign facing a potentially destabilising referendum in October.

Panda bonds are finally coming back to life after a dire first half. But although all the conditions are in place for an issuance boom, there is reason to doubt quite how high volumes will go.