UniCredit
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As expected, the loans for the leveraged buyout of Polish auction website Allegro are tightly priced, with tenors of six and seven years for less than 400bp. -
Potential lenders to the Z4.8bn loan for the leveraged buyout of Polish firm Allegro will meet in Warsaw on Thursday where the deal will be launched into general syndication.
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The European subsidiary of US commodity trader Louis Dreyfus is refinancing a $800m dual tranche credit facility after increasing its Asian credit facility earlier in the year.
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The EM primary bond market took just one day to digest Donald Trump’s unexpected ascent to the US presidency before new issuance resumed with a Gazprom bond. That was far quicker than the seven days it took the market to reopen after the Brexit vote on June 23.
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Syndication for the refinancing of $1.235bn of loans for commodity trader Gunvor has closed, with lenders making “significantly oversubscribed” commitments, while competitor Trafigura faces a €2bn maturity this month.
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Shares in ProSiebenSat.1 Media, the German television, radio and publishing group, closed 7.4% lower on Friday after it completed a surprise €515m capital increase to finance future digital acquisitions and strengthen its balance sheet.
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Nine banks have been mandated to arrange the financing for the leveraged buyout of Polish online marketplace Allegro, and a senior loan will be launched into syndication later this month.
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Leveraged buyout activity in Central and Eastern Europe is gaining momentum, driven by a few jumbo deals pushing for terms and pricing more commonly seen in Western European markets. For some local banks, the conditions are too tough to compete.
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Despite the damage done to this autumn's IPO season, with a string of deals pulled and several trading badly, there is still a handful of flotations in the market, and ECM bankers believe they have a chance of success, writes Aidan Gregory.
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Varta AG, the German micro-batteries manufacturer spun out of the historic Varta Group in 2002, has joined the small group of European companies braving the choppy waters of the IPO market.
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Italy’s bottle top maker Guala Closures on Tuesday began roadshowing for a new deal to refinance all of its high yield bond debt as the market’s pipeline accelerates before the US elections.
