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Former investment banker has been CFO of Verbund
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Large leveraged buyouts may be set for a return to Europe’s leveraged finance market following a lengthy sojourn. Stada, the German generic pharmaceuticals firm, this week said it was fielding numerous buyout offers worth around €3.5bn, offering investors the respite from relentless repricings that they have craved for several months. Max Bower reports. -
Reckitt Benckiser, the UK based health and hygiene firm, is progressing with its approach to buy US-based Mead Johnson Nutrition, with loan deals taking shape and the boards of both firms having waved through the $17.9bn transaction. The margins for Reckitt’s loans are “record low”, loan bankers involved in the transaction said, as investment grade borrowers bathe in bank liquidity.
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With four big loan deals already in the market for Omani borrowers this year and more expected, bankers are concerned that lenders could fast run up against country limits. With a big hole to plug in Oman's budget, spillover to the bond market looks inevitable, writes Bianca Boorer.
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US confectionery and pet food firm Mars is seeking two term loans of $2.5bn each to back its acquisition of animal healthcare company VCA.
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Russian Railways is still on track to be the country’s first borrower of 2017 to complete a deal in the syndicated loan market, with bankers expecting to wrap up documentation soon. But Siberian Coal Energy Company (SUEK) is leading a charge of big Russian pre-export finance facilities that look set to dwarf the unsecured market in the first half of the year.
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Oman’s sovereign wealth fund is in the market for a $600m loan to support its acquisition of a stake in Oman Telecommunications, and is tapping Asian liquidity for the first time. With several Gulf nations making efforts to contain budget deficits, including by selling assets, borrowers from the region could be ones to watch. Shruti Chaturvedi reports.
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