Whitbread extends £950m revolver as Premier Inn boosts profits
UK hospitality firm Whitbread has extended its revolving credit facility by one year after its subsidiary Premier Inn helped generate a 2% increase in profit in the first half of the year.
View ArticleIntu Properties returns to CB market with £375m deal
Intu Properties, the UK shopping centres group formerly known as Capital Shopping Centres, has issued its first convertible bond since 2012, through an accelerated bookbuild launched on Tuesday morning.
View ArticleFCA review misses the point, with worrying implications
The Financial Conduct Authority’s final review of investment and corporate banking markets whiffs of the sort of light-touch regulation that aided and abetted the boom years before the 2008 financial...
View ArticleAustria and KommuneKredit sate investor hunger for duration
Austria was richly rewarded for taking a leap into the unknown on Tuesday, as it took orders of over €7bn for the longest dated syndication ever from a core eurozone sovereign. KommuneKredit also broke...
View ArticleEBRD bucks trend with five year dollar mandate, CDC and EAA go for threes
The European Bank for Reconstruction and Development is set to test the five year part of the dollar curve — a tenor not attempted by many issuers over the last few weeks — as a French issuer opted for...
View ArticleBawag to squeeze Northern Rock portfolio for triple-A funding
Austrian bank Bawag is lining up a debut prime RMBS deal for funding purposes, backed by a portion of Northern Rock mortgages acquired from UK Asset Resolution as part of the £13bn Granite sale last year.
View ArticleCBPP3 is not about to end
The European Central Bank is “reaching the limits” of its covered bond purchase programme (CBPP3) according ECB board member Ewald Nowotny, but that does not mean it has actually hit the limit and is...
View ArticleFed needs to get on message for December and beyond
Forward looking statements from officials linked with the US Federal Reserve Board have been a bit of a controversial issue this year and have more often than not caused more confusion than clarity.
View ArticleDNA decides on second IPO attempt
DNA Ltd, Finland’s third largest mobile phone operator, has decided after a strategic review to embark on a second attempt at an IPO, more than three years after shareholders voted against going public.
View ArticlePermira brings glimmer of hope for sullen investors
Permira has added to its recent shopping basket of acquisitions with the purchase of German online retailer Schustermann & Borenstein from Ardian.
View ArticleBayer raises profit target, hints at loan refinancing
Bayer said it may conduct the refinancing of its $56.9bn credit facility ahead of the closing of the transaction, which is expected by the end of 2017, the firm said in a financial report on Wednesday.
View ArticleTogether’s £220m PIK bond to pave minority owners' exit
The Mose family intends to become the sole owner of UK mortgage loan provider Together as private equity firm Equistone and Standard Life plan PIK issuance before exiting the company.
View ArticleConvaTec trades flat after sewing up landmark London IPO
Shares in ConvaTec, the UK medical supplies manufacturer, traded below issue price throughout Wednesday and closed flat, a day after the firm completed the largest IPO on the London Stock Exchange...
View ArticleMerck prints rare ultra-long clip
US pharma giant Merck reached for a long tenor on Wednesday, in the process reopening the market for ultra-long trades as it issued a 20 year tranche.
View ArticleNRW breaks tenor record as EFSF wraps up 2016 in 10s
A fourth issuer of the week has broken its record for longest dated syndication ever, while the European Financial Stability Facility wrapped up its 2016 needs with a trade that looked almost short end...
View ArticleSNCF Réseau on track for first green bond
SNCF Réseau will issue the first green bond ever from a European transport company on Thursday.
View ArticleInforma raises £715m to buy Penton
Informa, the UK events and publishing company, has announced the completion of its £715m rights issue, which it launched in September to partly finance its £1.2bn takeover of Penton, a US competitor.
View ArticleSSAs find tight prices, increased volumes in dollar mart
A trio of issuers on Wednesday were able to tighten pricing or print above their minimum targets — or both — in another strong day for the dollar market.
View ArticleFirst eurozone green rail bond pulls into station
SNCF Réseau, the French rail provider, made its green bond debut on Thursday, becoming the first railway agency in the eurozone to access the green market.
View ArticleTelenet launches €500m refi, OGF seeks tap
Liberty Global-owned Belgian telecoms firm Telenet launched a €500m eight year term loan ‘B’ on Thursday as it looks to take advantage of propitious issuer conditions to refinance existing debt.
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