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Deal multiple times oversubscribed as investors buy into electrification and AI story
Deal comes after bank built M&A matchmaking system using AI and invested in BlockInvest
Deutsche enters banking syndicate, ING and Commerz sit out of fresh transaction
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A €179.4m loan to support Chinese company Aier Eye Hospital Group’s acquisition of Spanish firm Clinica Baviera has entered syndication with three banks at the helm. The deal is another example of Mainland firms’ eagerness to expand overseas, which is in turn giving the country’s lenders with similar ambitions a leg-up as they venture into relatively unexplored markets. Shruti Chaturvedi reports.
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In the five years or so since the Libor scandal broke, or the 10 years since Libor itself broke as the financial crisis laid waste to interbank borrowing, the rate itself has done just fine.
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Standard Bank is planning to launch a $750m syndicated loan, and hopes to drum up enough interest to enlarge it to $1.25bn.
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Daimler and Landesbank Baden-Württemberg have launched on Wednesday the first Schuldschein issue to be sold using blockchain technology.
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Sanctions on Russia could be tightened following a bill that passed the US Senate nearly unanimously in mid-June, but even though some commentators are sceptical that they will be implemented, VTB head of global banking Riccardo Orcel said that it won't stop the Russian state-controlled bank’s expansion into new markets.
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Buyers considering Klöckner Pentaplast’s €1.6bn loan and Manutencoop's high yield bonds forced the issuers to sweeten terms this week, in a now rare sight in the leveraged finance market.
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