UniCredit
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Slovak Gas Holding has signed a €1.78bn underwritten loan partly to refinance a March 2013 acquisition financing facility. -
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Issuers benefited from ideal market conditions for senior unsecured trades this week, with spreads rocketing inwards following the European Central Bank’s decision to cut rates last week. While the sharpest part of the rally may be over, issuers are expected to enjoy an easy ride for the foreseeable future as syndicate bankers expect spreads to grind even tighter.
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The European Financial Stability Facility enjoyed ideal market conditions to print long three year debt this week, with the order book swelling to over twice subscribed despite the issuer offering only the skinniest of new issue premiums.
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Spanish olive oil producer Deoleo scrapped the entire dollar tranche of its €600m loan last week but as the dust settles on the deal it has emerged that US, rather than European investors, played the pivotal role in this swing.
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Italian insurance company UnipolSai sold an oversubscribed perpetual non-call 10 tier one deal on Wednesday at a level reflecting the new, tighter pricing of subordinated debt in the wake of the European Central Bank's easing programme, announced last Thursday.
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Two issuers from the eurozone’s periphery hit the senior market on Thursday despite a halt in the rally triggered by a rates cut from the European Central Bank last week.
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Commodity trading and mining company Glencore has signed oversubscribed revolving credit facilities totalling $15.3bn from 69 banks.
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The European leveraged loan market, usually the weaker rival of its larger US counterpart, is punching above its weight as US mutual funds have faltered in their enthusiasm for buy-out debt.
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Gates Global - Sport Group - Intralot - Homair Vacances
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Danske Bank’s first covered bond of the year offered an attractive spread relative to its Nordic peers, making it a straightforward sell for its lead managers. But even so, the final pricing level was just one third of Danske’s differential against top tier Swedish covered bonds issued a year ago.
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Deoleo, the Spanish olive oil producer, has dropped the dollar tranche of its €600m refinancing loan, which will be allocated on Monday.
