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Former investment banker has been CFO of Verbund
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French media technology firm Technicolor increased its euro term loan offering by €200m to €450m on Wednesday, as Verisure tightened and accelerated the pricing and commitments on its own deal. -
Bankers and investors are still complaining about the lack of single-B rated issuers in the European high yield market this year, but 2017 will bring little relief, Fitch said on Wednesday.
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The Egyptian subsidiary of Abu Dhabi telecoms firm Etisalat is raising a $278m loan described as having “UAE pricing” because — despite the currency risks involved in Egyptian loans — the deal is secured by the borrower’s offshore foreign currency revenues, according to bankers.
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African Export-Import Bank (Afreximbank) signed a $872m loan this week at its lowest margin for a two year syndicated deal, according to two bankers on the deal. The borrower also increased the deal size from $600m in syndication.
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Investment grade corporate bond issuance kept up a steady pace this week, as borrowers took advantage of one of 2016’s last clear weeks for issuance. But far from being putt off by new issue premiums growing plump as turkeys in a market worried about interest rate risk, issuers know conditions could well be worse in the new year.
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India’s Reliance Industries, which asked banks for feedback on a new loan to replace a $1.75bn borrowing signed in November 2013, has picked lenders to arrange the funds.
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