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Lenders believe year ahead may not be as robust unless event-driven M&A takes place
London-based hire will also work on financing for infra sector sponsors
Orders five times the original deal drove size boost
Thirteen banks have provided £5bn ECA-backed financing
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GN Store Nord, a Danish hearing aid maker, has signed a €350m revolving credit facility, pulling syndicated and bilateral lines into one deal.
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AAK, an ingredients company in Sweden, has renewed its €400m revolver, adding sustainability-linked metrics to the deal for the first time.
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Anglian Water has announced its intention to issue a fresh private placement under a new financing structure. Utilities, once stalwarts of the market, have been few and far between in the last 18 months as PPs have struggled to compete with public bonds on price.
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The majority of Europe’s syndicated loan market thinks it does not know enough about the financial technology that is likely to affect its business, according to a recent survey. But no respondents to the survey saw fintech as a threat.
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German energy storage companies populated the loan market this week, with battery maker Varta and solar cell company Meyer Burger raising €420m between them.
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Naturgy Energy, the Spanish gas and electricity utility, has doubled the size of its revolving credit facility in an amend and extend exercise, the latest demonstration that the balance of power in the loan market remains firmly on the side of the borrowers.