Alasdair's Feed
Apr 1, 2015

EMEA first quarter syndicated lending flat at $208 bln

LONDON, April 1 (Reuters) – Syndicated lending in Europe,
the Middle East and Africa (EMEA) of $208 billion in the first
quarter was flat on $209 billion in the first three months of
2014 despite an increase in merger and acquisition (M&A)
financing, Thomson Reuters LPC data shows.

Loan volume failed to match strong demand and high levels of
bank liquidity. M&A activity is growing slowly but the
refinancing wave, which has driven activity in the last two
years, is subsiding.

Feb 12, 2015

Enel renegotiates 9.4 bln euro loan

LONDON, Feb 12 (Reuters) – Italian utility Enel
has renegotiated a 9.4 billion euro ($10.70 billion) revolving
credit facility, extending the maturity of the loan and reducing
the cost of the financing, the company said in a statement on
Thursday.

The maturity of the financing, which can be used by Enel and
by its Dutch subsidiary Enel Finance International, for
day-to-day cash requirements, has been extended to 2020 from
April 2018, previously.

Dec 31, 2014

EMEA lending of $1.2 trn highest since financial crisis

LONDON, Dec 31 (Reuters) – Syndicated lending in Europe, the
Middle East and Africa (EMEA) reached $1.2 trillion in 2014, the
highest annual total since 2007 and 25 percent up from $930
billion in 2013, according to Thomson Reuters LPC data.

Lending activity was buoyed by the return of acquisition
financing and record refinancing.

Dec 11, 2014

Banks line up debt for Macquarie’s Iberian utilities buy

LONDON, Dec 11 (Reuters) – Banks have lined up 1.4 billion
euros ($1.74 billion) of debt financing to back the acqusition
of German utility E.ON’s Spanish and Portuguese
operations, banking sources said.

Macquarie via its Macquarie European Infrastructure
Fund 4 and Wren House Infrastructure, an investment vehicle of
the Kuwait Investment Authority, agreed to buy E.ON’s Spanish
and Portuguese integrated electricity businesses on December 1
for around 2.5 billion euros.

Oct 16, 2014

Geberit lines up $1.78 billion in loans for Sanitec buy

LONDON (Reuters) – Swiss sanitary systems firm Geberit (GEBN.VX: Quote, Profile, Research, Stock Buzz) said it is lining up $1.78 billion-equivalent of loans to back its acquisition of Finland-based bathroom ceramics company Sanitec.

The financing includes a 900 million Swiss franc ($950.47 million) bridge loan to a bond issue and a 400 million euro($509.32 million) bridge loan which will be refinanced by a term loan.

Oct 14, 2014

Airbus completes amend and extend of three billion euro loan

LONDON (Reuters) – European aerospace company Airbus Group (AIR.PA: Quote, Profile, Research, Stock Buzz) has completed an amend and extend of its existing 3 billion euro ($3.79 billion) revolving credit facility, the company said in a statement.

A/A2/A- rated Airbus Group, previously European Aeronautic Defence and Space Company (EADS), has joined other highly-rated European corporates to amend and extend their longer-dated credit facilities to improve terms and refresh maturities.

Oct 14, 2014

Airbus completes amend and extend of 3 bln euro loan

LONDON, Oct 14 (Reuters) – European aerospace company Airbus
Group has completed an amend and extend of its existing
3 billion euro ($3.79 billion) revolving credit facility, the
company said in a statement.

A/A2/A- rated Airbus Group, previously European Aeronautic
Defence and Space Company (EADS), has joined other highly-rated
European corporates to amend and extend their longer-dated
credit facilities to improve terms and refresh maturities.

Oct 13, 2014

Gunvor launches $900 mln loan refinancing

LONDON, Oct 13 (Reuters) – Swiss oil and energy trader
Gunvor Group has launched syndication of a $900 million revolver
to replace the maturing tranche of its $1.5 billion European
loan that was signed in December last year, the company said in
a statement on Monday.

The new loan, which is for general corporate purposes and
working capital, is available to Gunvor International and Gunvor
SA.

Sep 30, 2014

EMEA syndicated loans reach $813 bln in first nine months-data

LONDON, Sept 30 (Reuters) – Syndicated lending in Europe,
the Middle East and Africa (EMEA) was up 18 percent year-on-year
to $812.6 billion in the first nine months of 2014, the highest
volume total since 2007, Thomson Reuters LPC data shows.

The loan market has been buoyed by the return of large-scale
merger and acquisition financing, with over $122.8 billion of
loans backing acquisitions completed year-to-date, outstripping
all full-year M&A totals since 2008.

Sep 8, 2014

Low-ball M&A loan bids hit Europe’s lenders

LONDON, Sept 8 (Reuters) – Banks in Europe could soon find
it much less lucrative to underwrite M&A loans as they bid
increasingly aggressively to win precious mandates and are
forced to dilute their share of ancillary business to sell deals
on to other banks.

After a wave of cut-price refinancings and amend-and-extend
exercises, banks hoped a pipeline of more profitable
event-driven financings would enable them to hit targets and
reap the rewards that come with leading new transactions.