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Utilities metering company could refinance Schuldschein in coming months
Tight spreads keep Middle East borrowers in bond market, and away from loans
Kazakh bank doubles the tenor to two years compared to previous deals
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Robert Bosch launched Schuldscheine with tenors varying between two and 20 years on Tuesday. The German car parts supplier is looking to raise at least €500m in a market all but shut since the coronavirus pandemic reached Europe. Participants hope this launch will prompt other borrowers to follow suit. -
Pandora, the Danish jewellery manufacturer, has raised Dkr1.8bn ($176m) through an accelerated placing of 8m treasury shares on Tuesday, to give it funds to withstand the damage to its business caused by the coronavirus pandemic. The company had recently repurchased the shares used in the placing through a buy-back scheme.
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United Overseas Bank has approved S$4bn ($2.8bn) in loans to mid-sized enterprises in Singapore, taking advantage of a temporary bridging loan programme launched by the country’s government to cushion the impact of the Covid-19 pandemic on companies.
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Prospects are rising of a return to normal merger and acquisition activity, despite the continued grip of the Covid-19 pandemic. Telefónica, the Spanish telecoms group, has confirmed it is in talks about combining its UK mobile business O2 with Virgin Media, the quad play telecoms firm owned by Liberty Global.
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Russian borrowers are still seeking funds from international lenders, with a handful of companies in the market. However, dynamics have changed amid the spread of the coronavirus and borrowers must offer higher margins to fewer lenders.
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Chenavari Investment Management’s Toro Fund said in a recent update to investors that it was unwinding its leveraged loan warehouse, in contrast to other CLO fund managers and equity investors that have pushed out deals and begun to reopen the market.
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