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Pharmaceuticals and energy transition also ripe sectors for M&A
Munich-based company's deal is one of five launched this month
Big deal joins light supply in January
Bankers say deals are still being launched and believe international rivalry can be negotiated
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Louis Dreyfus Co, the Dutch-based agricultural commodities trader, has renewed its $750m North American bank credit line, and become the latest company to add a sustainability-linked element to its revolving credit facility.
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US investment research firm Morningstar has agreed to buy credit ratings agency DBRS for $669m, in a move that will expand its business in this area beyond the US. The deal will be partially backed by a new bank credit facility.
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Brussels Airport has issued a €500m US private placement in three tenors in a “blowout transaction”, according to market sources.
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Switzerland’s Sucafina has renewed its $300m syndicated loan, with all 11 banks that lent to the coffee trader’s debut in 2017 rejoining the deal as bankers say there is still not enough business to go around.
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US firm Auramet has increased its syndicated loan to $190m, with the precious metals trader adding to its lending group for an oversubscribed deal.
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Russian borrowers are making their presence felt in international capital markets. Two syndicated loans are expected to close this week, as well as a bond from a steel manufacturer. The sovereign is also eyeing up the the primary bond market, but the threat of further US sanctions still looms.