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CredEm grows OBG investor base, more to come this year

Credito Emiliano’s €750m five year has earned praise for its tight pricing, but it was demand from outside the eurozone, including from Asia and Switzerland, that suggests Italy’s recovery story...

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Crédit Agricole group feels benefits of cost cuts

Crédit Agricole’s fourth quarter results showed that the bank was feeling the positive effects of its cost reduction plan and business disposals that it conducted in 2013. This cost cuts affected the...

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Costs could scupper Scotlandâs bid for bond freedom

The UK government in London may be prepared to give Scotland the authority to print its own bonds, thus adding a new issuer to the exclusive sovereign, supranational and agency market, but the real...

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Comet-less Darty makes HY debut with tight â¬250m 7yr

Darty Financements made its bond debut in Europe's near-empty high yield market this week.

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Dollar buyers hot for German paper

Demand for dollar deals from a pair of German issuers surpassed expectations this week, as Erste Abwicklungsanstalt followed a heavily oversubscribed print from KfW with its debut benchmark in the...

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EC seeks covered bond harmony

The European Commission wants to harmonise the covered bond market and will assess its preferential regulatory treatment, according to a draft document. Harmonisation of national laws will be almost...

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Emerging Market syndicated loans-news in brief, Feb 21, 2014

First Quantum woos new banks — DBK signs deal

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Emerging Europe: banks not panicking about QE taper so far

The Federal Reserve’s tapering of its quantitative easing programme has yet to have an impact on foreign bank lending in emerging Europe. New data show that foreign banks appear to have shrugged off...

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ED&F Man picks banks as commodities trio hit market

Commodities companies are keeping loans bankers busy in western Europe, as UK broker ED&F Man joined Amsterdam Commodities and Trafigura in the market.

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Core covered compression constrains performance

Covered bond spreads are so tight that there is almost no scope for secondary performance, bankers have warned. “Core markets are in a zone of low oxygen,” one said on Tuesday, as KBC Bank priced a...

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Codere defaults on 2nd bond, rejects plan

Codere, the troubled Spanish gambling company, has rejected bondholder plans to restructure its debt, after it failed to make coupon payments on both its bonds.

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Bankers predict sevens as ESM gears up for benchmark

The European Stability Mechanism will sell its first benchmark deal of 2014 next week and SSA officials have their money on it being a seven year.

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BAML and Barclays lead GMS IPO

Gulf Marine Services, the Abu Dhabi offshore service vessel operator, hopes to tap into investors’ interest in its potential for growth to raise $100m of primary proceeds through a London IPO.

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Aramark to allocate $4.8bn jumbo loan

Aramark, the US catering and facilities management group, is set to allocate $4.8bn-equivalent of loans, having received commitments from investors last week.

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Bankers chase bigger but fewer bonds in EM

In 2014, emerging market bankers will be chasing after bigger mandates, but fewer of them if this year’s numbers are anything to go by. The average size of an emerging market bond in the first weeks...

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BNP Paribas goes tight as market lives up to hype

The covered bond primary market lived up to supply expectations this week with five issuers tapping the market in the first two days of the week. BNP Paribas stood out, showing the strength of its...

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CEEMEA trio restarts Russia despite threat of Ukraine contagion

Russian borrowers have been conspicuous by their absence in the bond market this year, but that changed this week with three benchmark-sized transactions despite the awful events in Ukraine. The deals...

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Canny politics, glaikit finance

The granting of bond issuing powers to the devolved Scottish government is nothing but a political play.

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CAF hunts for investors in HK$ and Nkr

Corporación Andina de Fomento (CAF) hopes to increase its presence in the Hong Kong dollar and Norwegian krone markets, a funding official at the development bank told EuroWeek. But the borrower may...

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Allianz buys Scottish motorway bond, Mersey bridge on way

Crédit Agricole and HSBC have placed what is believed to be the first unwrapped bond to finance a new UK road since the demise of the monoline insurers in the financial crisis.

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