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In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
Market stress so far confined to consumer credit and SMEs across region
Utilities metering company could refinance Schuldschein in coming months
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Corporate bond investors in Europe are strapping in for a busy few weeks, though some have redoubled their call for issuers to offer shorter maturity debt.
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German pharmaceutical firm Vetter launched a Schuldschein on Tuesday, which is the first such offering in the market in 2020. -
India’s Syndicate Bank has closed its $100m borrowing, with the lead bank selling the entire amount to three participants.
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Minmetals Land’s subsidiary, Onfem Finance, has attracted 17 lenders during syndication, allowing the borrower to boost its loan to HK$6bn ($771m).
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New leveraged loan supply has started strong, despite geopolitical jitters leading to softness in the public markets, and it’s not just play-it-safe refi issues. Cision is marketing dual-currency acquisition debt for Platinum Equity’s takeover of the public relations technology firm, while Global University Systems is prepping a deal of nearly €1bn to fund a dividend. Also in the loan market are Ortho-Clinical Diagnostics and Refinitiv’s euro repricing, while Stena and Ashland have mandated potential bond deals.
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Xerox has secured $24bn in financing for its unsolicited debt backed bid for rival technology company HP, as the acquisitive firm looks to quell HP shareholder worries about how it will fund the jumbo deal.
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