Svenska Handelsbanken
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Sweden's largest oil refiner, Corral Petroleum Holdings, sold on Friday €625m-equivalent of payment-in-kind toggle notes after dropping dollars for Swedish kronor. -
Corral Petroleum Holdings, Sweden's largest oil refiner, on Wednesday released double digit price guidance for its $700m-equivalent of payment-in-kind toggle notes, as it meets investors in the US this week.
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Two single-B credits launched in the European high yield market this week — Cirsa and Preem — taking April's tally to four. Only six single-B deals of at least €100m have been priced so far this year, with some observers expecting the stream to continue.
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Preem, Sweden’s largest oil refiner, is marketing $700m of senior secured five year non-call three PIK toggle notes at numerous investor meetings throughout this week.
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Banks continued to take advantage of the rally in high grade credit as Citigroup and Svenska Handelsbanken printed benchmark trades ahead of the Easter holiday.
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HeidelbergCement issued a benchmark high yield bond on Monday that was increased to €1bn and nearly three times oversubscribed.
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Sanoma, the Finland headquartered media and publishing company, has retained support from its relationship banks in a €500m refinancing deal. But two banks did not return, as the group sought to slim down its syndicate.
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Year to date FIG issuance volumes are barely half what they were in 2015, as a seemingly endless run of poor headlines has weighed on performance and left investors wary.
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FIG issuance ground to a halt on Thursday as borrowers paused to reflect on weak secondary trading and a global sell-off in equities, leaving Dexia Crédit Local alone in the market.
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Swedish telecommunications company Tele2 has retained all of the original lenders as it refinances a €800m revolving credit facility.
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Finnish Stainless steel producer Outokumpu reduced the size of its revolving credit facility and pushed out maturities on other existing loan agreements as part of a wider deleveraging effort.
