UniCredit
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Private equity firm Ardian has turned to the leveraged loan market to fund its acquisition of German lighting provider SLV Holding from Cinven. -
Acciona, the Spanish infrastructure and renewable energy firm, has allocated its first Schuldschein, growing the deal by €50m and securing about the same pricing as (if not lower than) its latest syndicated loan.
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Norddeutsche Landesbank (NordLB) and Deutsche Genossenschafts-Hypothekenbank (DG Hyp) issued tightly priced German Pfandbriefe that benefitted from a rise in yields this week.
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Three high yield borrowers on Monday announced refinancing deals in euros with roadshows starting this week — the first to meet with investors is Sindacato Nazionale Agenzie Ippiche, the Italian gaming company.
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Commodity trader Gunvor is in the market to refinance its $1.36bn European revolving credit facility $210m of which is due to mature in November 23, according to three bankers.
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German borrowers ProSiebenSat and RKW and Austria's Montana Tech Components are in the market for €430m of Schuldscheine collectively.
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Yet another Italian corporate has come to the new issue euro bond market seeking liability management refinancing, as utility company Iren on Monday offered investors a €500m eight year bond.
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NordLB issued a €750m public sector covered bond on Monday which, like the previous German 10 year from Commerzbank, was only just subscribed. The tight initial spread discouraged order inflation and stimulated high quality orders, allowing the borrower to issue more than was initially planned.
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Snam visited the euro corporate bond market for the second week in a row on Tuesday, issuing a €500m four year bond and clinching a 0% coupon for the offering.
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A banker at one of Ecom Agroindustrial's new lenders, Raiffeisen Bank International, said that the bank was following a strategy to build new relationships with soft commodity firms in joining the Ecom deal.
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The head of group funding at UniCredit, Waleed El Amir, talked exclusively to GlobalCapital about meeting looming regulatory deadlines and the advantages of the covered bond market.
