3 September 2010
European loan pricing could tighten sharply in the last quarter of the year despite some bankers’ efforts to resist aggressive levels sought by Carlsberg and other borrowers, especially Nordic names, in the wake of the recent Vivendi refinancing. read more »
03 September 2010
A glut of corporate borrowers could be tempted to bring acquisition deals to the European loan market in the next couple of months, having seen the success of recent acquisition facilities.
Club facilities have come to dominate emerging market loans this year, Dealogic data shows. While syndicated facilities were as much as 73% of all EM loans between January 1 and September 2 two years ago, the ratio has reversed. In the same period this year, 51% of the sector’s volume came from club deals between borrowers and their relationship banks.
Bookrunners this week confirmed the tranche structure of a Eu785m loan backing CVC Capital’s Eu1.2bn leveraged buy-out of Autobar, the vending machine operator.
Gazprombank is set to borrow $750m or more of three year money, according to bankers close to the deal. The Russian bank may increase the size if the number of MLAs on the deal is extended.
Banks on the Eu287m senior loan backing the Eu500m buy-out of Cerba European Lab have had their allocations scaled back after the deal closed oversubscribed.
SES, the Luxembourg-based satellite operator, has amended its Eu2bn 2012 loan signed last year, cutting the size back to Eu1.2bn but extending the maturity to 2015. The borrower has also reduced the price.
BP turns to PXFs as banks learn the Yukos lesson
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Loan Ranger: Carlsberg’s bank meeting could be the ticket of the year
Bookrunners of all global syndicated loans — 2010 (September 2, 2010)
StanChart’s loan distribution chief moving to Singapore
by Olly Copplestone
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Turkey in the Capital Markets
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