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AfDB hopes to launch multi-issuer securitization this year
◆ French firm takes €700m with unrated deal ◆ Double digit concession needed ◆ Deal prices inside debut, but returns higher yield
Deal liberates capital and tempts investors to take new frontier market risk
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South Africa's Steinhoff has agreed to buy UK discount retailer Poundland in a £597m deal, with Crédit Agricole one of two banks underwriting the loan financing. The French bank also benefited from Steinhoff’s thwarted bid for Darty earlier this year, when it co-underwrote a facility for rival bidder Fnac. -
Swedish firm AR Packaging and French software firm Cegid both successfully allocated leveraged buyout loan packages this week — with the margins undisturbed by the UK's vote to leave the EU.
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Commerzbank has merged its high yield and leveraged loan teams, appointing the former HY head to lead the new unit and leaving the former levloan head without a position at the bank.
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Democratic Republic of Congo firm, Helios Towers DRC, has received a $105m loan to buy 950 telecommunications towers and for capex needs.
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India’s Rural Electrification Corp (REC) has sent banks a request for proposals for a new $150m loan.
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The first corporate bond new issue has been priced in euros at a negative yield. Deutsche Bahn raised €350m of five year debt on Wednesday with a 0% coupon, at a yield of -0.006%.
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