UniCredit
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The European leveraged loan deal pipeline for September keeps growing, now topping €7bn from more than 10 borrowers. The latest facility is for UK software firm Civica, which Partners Group has acquired from OMERS Private Equity. -
GIMA TT, the tobacco packaging machinery division of IMA, has set the terms for its IPO on Borsa Italiana, which could value it at up to €1.1bn.
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On Thursday RCI Banque, the financing arm of Renault, brought the corporate bond deal count to 10 for the week, but was the only benchmark issuer in the market on the day. Danish logistics company DSV debuted in euros with a sub-benchmark deal.
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Russia’s Novolipetsk Steel (NLMK) was making prudent use of lower funding costs on Thursday to buy back its more expensive outstanding dollar debt.
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The UK-based global mining company Anglo American recently returned to investment grade after over 18 months with a junk bond rating. On Wednesday it announced it would tender for four of its shorter dated bonds and priced a new eight year benchmark deal.
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Intesa Sanpaolo and UniCredit have sold their stakes in Eramet, the French mining and metallurgy company, which they had acquired as a result of the debt restructuring of the Carlo Tassara vehicle in 2016.
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Euro corporate bond issuance returned on Friday after a blank day due to Thursday’s European Central Bank meeting. As the ECB’s president, Mario Draghi, said nothing to unsettle markets, US machinery maker John Deere and Italian oil and gas company Eni both priced deals in euros before the weekend, while Sweden's Akelius Property did the same in sterling.
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A tremendously supportive SSA market brushed off Thursday’s European Central Bank (ECB) meeting, printing all the way up to the morning of the press conference by bank president Mario Draghi, writes Lewis McLellan.
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On Tuesday, German car manufacturer Daimler converted a couple of reverse enquiries into an order book of around €600m, as investors showed renewed appetite for short dated fixed rate corporate bonds.
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Senior preferred debt has never been cheaper for banks — and it has regulatory benefits as well. While funding teams rush to meet bail-in targets, there's a value in keeping the old asset class alive.
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A pair of European agencies landed in euros on Tuesday, attracting huge books and tightening their spreads, indicating a promising backdrop for NRW.Bank’s green bond scheduled for Wednesday.
