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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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Marlin Enterprise has opened syndication for a $425m five year loan to finance its acquisition of a gold mine in North Sumatra in Indonesia, said bankers working on the trade. -
After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.
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Novacap, the French chemicals and pharmaceuticals firm, had replies due on Wednesday on its €435m seven year cov-lite term loan ‘B’ as the market for European leveraged loans struggled to clear all launched deals and build a decent pipeline.
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Allnex, the Brussels-headquartered coating resins business, had bank meetings on Wednesday for a €760m cov-lite term loan ‘B’ backing its acquisition of Nuplex, the New Zealand resins firm.
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Local lenders flooded into mobile telecommunications firm MTN Côte d’Ivoire’s $225m-equivalent loan in West African francs, leaving it almost twice subscribed.
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Kenya Power and Lighting Company (KPLC) has completed refinancing on $500m of loans, reducing its costs with the help of a World Bank guarantee.
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