IFR International - 21.07.2018

(Martin Jones) #1

4HEûAVERAGEûINTERESTûRATEûACROSSûTHEû33$û
ISû
4HEûlNANCINGûHASûALMOSTûDOUBLEDûINûSIZEû
FROMûTHEûLAUNCHûAMOUNTûOFûõMûWITHû
AROUNDûûINSTITUTIONALûINVESTORSû
PARTICIPATING ûWITHûPARTICULARLYûSTRONGûDEMANDû
FROMûINTERNATIONALûINVESTORS ûACCOUNTINGûFORû
AROUNDûûOFûTHEûTOTALûVOLUME
!43ûTAPPEDûTHEûMARKETûFORûAûõMû
3CHULDSCHEINûINû-ARCHûûVIAû2")ûANDû
5NI#REDITû4HATûlNANCINGûCOMPRISEDûlVE û
SEVENûANDû
YEARûMATURITIES
4HEûCOMPANYûRETURNEDûTOûTHEû33$ûMARKETû
INû/CTOBERûûFORûAûõMûISSUEûVIAû
#OMMERZBANKûANDû(3"#û4HATûlNANCINGû
COMPRISEûlVEûANDûSEVEN
YEARûMATURITIES


GERMANY


SCOUT24 BAGS €1bn REFINANCING

$IGITALûMARKETPLACEûOPERATORûSCOUT24 has
AGREEDûAûõBNûlVE
YEARûSYNDICATEDûLOANûTOû
RElNANCEûITSûEXISTINGûLOANûANDûBACKûITSûALL
CASHûõMûACQUISITIONûOFûCOMPARISONû
WEBSITEûOPERATORû&INANZCHECKDE
4HEûUNSECUREDûlNANCINGûINCLUDESûAû
õMûTERMûLOANûANDûAûõMûREVOLVINGû
CREDITûFACILITY ûOFûWHICHûõMûISûDRAWN
4HEREûISûALSOûAûõMû2#&ûTHATûWILLûBEû
USEDûFORûACQUISITIONSûANDûHASûAûTHREE
YEARû
MATURITYûPLUSûTWOûONE
YEARûEXTENSIONû
OPTIONS
0RICINGûISûBASEDûONûAûNET
DEBT
TO
%BITDAû
GRIDûANDû3OCUTûEXPECTSûTOûSAVEûõMûPERû
YEARûONûTHEûlNANCINGûAFTERûTHEûACQUISITIONûOFû
&INANZCHECKDEû4HEûRElNANCINGûWILLûHAVEûAû
ONE
OFFûCOSTûOFûõMûINû
4HEûlNANCINGûISûBEINGûPROVIDEûBYûAûGROUPû
OFûNINEûBANKSûLEDûBYûJOINTûCOORDINATORSûANDû
bookrunners ABN AMRO and UniCredit Bankû
5NI#REDITû"ANKûISûFACILITYûAGENT
3COUTûISûACQUIRINGû&INANZCHECKDEûFROMû
!CTONû#APITALû0ARTNERS ûBTOVû0ARTNERS û
(IGHLANDû%UROPE û(ARBOUR6ESTû0ARTNERS û


&INANZCHECKDESûFOUNDERûANDûCHIEFû
EXECUTIVEûOFlCER ûANDûOTHERS
)Nû!PRIL û3COUTûREPAIDûõMûOFûITSûEXISTINGû
SYNDICATEûLOANûUSINGûPROCEEDSûFROMûITSûDEBUTû
õMû3CHULDSCHEINûANDûEXCESSûCASHmOWSû4HEû
LOANûTOTALLEDûõMûAFTERûTHEûREPAYMENT
4HEûCOMPANYûAGREEDûTHEûUNSECUREDûlVE
YEARûSYNDICATEDûLOANûINû$ECEMBERûûFORû
õM ûCOMPRISINGûAûõMûTERMûLOANûANDû
AûõMûREVOLVINGûCREDITûFACILITY
4HEûTERMûLOANûWASûFULLYûDRAWN ûWHILEûTHEû
REVOLVERûWASûINITIALLYûõMûDRAWN
4HEûCOMPANYûMADEûTWOûõMû
REPAYMENTSûONûTHEûlNANCINGûINû!UGUSTûû
ANDû*ANUARYû

EMSLAND SIGNS €150m LOAN

&OODûPROCESSINGûCOMPANYûEMSLAND GROUP has
SIGNEDûAûõMûlVE
YEARûSYNDICATEDûLOAN û
WHICHûWASûARRANGEDûBYûCO
ORDINATORSûANDû
bookrunners DZ Bank and NordLB
4HEûDEALûHASûTWOûONE
YEARûEXTENSIONûOPTIONS û
GIVINGûAûMAXIMUMûMATURITYûOFûSEVENûYEARSû
4HEûLOANûWILLûBEûUSEDûFORûGENERALûCORPORATEû
PURPOSESûANDûTOûRElNANCEûEXISTINGûDEBT
%MSLANDûWASûLASTûINûTHEûMARKETûINû û
WHENûITûRAISEDûAûõMûlVE
YEARûDEALûWITHû
THEûSAMEûBANKS
3IXûOTHERû'ERMANûBANKSûJOINEDûTHEûNEWû
DEALû
ûBayernLB ûCommerzbank ûHSBC Trinkaus &
Burkhardt and Landesbank Baden-Wuerttemberg
JOINEDûASûMANDATEDûLEADûARRANGERS ûANDû
Grafschafter Volksbank and Kreissparkasse
Grafschaft Bentheim zu Nordhorn AREûARRANGERS
%MSLANDûISû'ERMANYSûLARGESTûPOTATOû
STARCHûPRODUCER ûANDûISûALSOûAûGLOBALûLEADERû
INûMANUFACTURINGûRElNEDûSTARCHûPRODUCTS û
ASûWELLûASûlBRESûANDûPOTATOûmAKES
)TûMAKESûPRODUCTSûFORûTHEûPROCESSINGû
INDUSTRYûBASEDûONûRAWûMATERIALSûFROMû
VEGETABLESûPRINCIPALLYûPOTATOESûANDûPEAS û)Nû
THEûlSCALûYEARû û%MSLANDûPROCESSEDû
MûTONNESûOFûPOTATOESûANDû ûTONNESû
OFûPEAS ûGENERATINGûREVENUESûOFûõM

DOMO NETS €250m LOAN

DOMO CHEMICALSûHASûSIGNEDûAûõMûLOANûVIAû
BOOKRUNNINGûMANDATEDûLEADûARRANGERSûBNP
Paribas and KBC Bank
4HEûDEALûWILLûTERMINATEûATûTHEûENDûOFû-AYû
ûANDûWILLûBEûUSEDûFORûRElNANCINGûOFûTHEû
EXISTINGûFACILITIESûANDûFORûGENERALûCORPORATEû
PURPOSES ûINCLUDINGûEXPANSIONûPROJECTS
Commerzbank ûING Belgium ûLandesbank
Baden-Wurttemberg and Unicredit Bank are
MANDATEDûLEADûARRANGERSû+"#ûWASû
REAPPOINTEDûASûFACILITYûAGENT
$OMOûTAPPEDûTHEûLOANûMARKETûINû
3EPTEMBERûûFORûAûõMûlVE
YEARûCLUBû
LOANûFROMû#OMMERZBANK û&ORTIS û).'û"ANK û
+"#û"ANK û,""7ûANDû5NI#REDITû"ANKû+"#û
WASûCOORDINATORûASûWELLûASûFACILITYûAGENTûONû
THATûTRANSACTION

ITALY


FS ITALIANE SIGNS €2bn REFI

3TATE
OWNEDûRAILWAYûCOMPANYûFERROVIE DELLO
STATO ITALIANEûHASûSIGNEDûAûõBNûTHREE
YEARû
REVOLVINGûCREDITûFACILITYûREPLACINGûAûõBNû
FACILITYûTHATûMATUREDûINû-AY
4HEûFACILITYûWILLûBEûUSEDûFORûGENERALû
CORPORATEûPURPOSES ûINCLUDINGûCAPITALû
EXPENDITUREûFORûNEWûREGIONALûTRAINSûANDû
INFRASTRUCTUREûUPGRADES
4HEûFULLYûUNDERWRITTENûlNANCINGûISûBEINGû
PROVIDEDûBYûûNATIONALûANDûINTERNATIONALû
BANKSûTHATûWEREûSELECTEDûTHROUGHûAûTENDERû
AMONGûûBANKSûTHATûLAUNCHEDûINû!PRIL û
FOLLOWEDûBYûSYNDICATION
5NDERWRITERS ûMANDATEDûLEADûARRANGERSûANDû
bookrunners were BNP Paribas ûCDP ûCredit
Agricole CIB ûING ûIntesa Sanpaolo and UniCredit
#O
LEADûMANAGERSûWEREûBBVA ûBayernLB û
Commerzbank and HSBC FranceûBanco BPM was
AûPARTICIPANT
)NTESAû3ANPAOLOûISûFACILITYûAGENT

EI TOWERS BID BACKED BY LOAN

"ROADCASTERûMEDIASETûANDûINFRASTRUCTUREûFUNDû
F2ISûJOINTûõBNûBIDûFORûNETWORKû
INFRASTRUCTUREûCOMPANYûEI TOWERSûISûBEINGû
BACKEDûWITHûAûõMûMEDIUM
TERMûLOAN
4HEûlNANCING ûWHICHûISûFORûSPECIALû
PURPOSEûVEHICLEûIû4OWERS ûISûBEINGûPROVIDEDû
BYûIntesa Sanpaolo ûMediobanca-Banca di Credito
Finanziario and UniCredit
4HEûBALANCEûOFûTHEûPURCHASEûPRICEûWILLûBEû
FUNDEDûTHROUGHûCAPITALûANDûlNANCINGû
PROVIDEDûBYû&IûANDû-EDIASET
&IûHASûAûûSHAREûINûIû4OWERSûWHILEû
-EDIASETûHOLDSû

TECNIMONT AGREES €185m REFI

%NGINEERINGûANDûCONSTRUCTIONûCOMPANYû
MAIRE TECNIMONTûSUBSIDIARYû4ECNIMONTûHASû
AGREEDûAûõMûLOANûRElNANCING
4HEûMOVEûCOMESûAFTERû-AIREû4ECNIMONTû
ISSUEDûAûõMûSIX
YEARûBONDûINû!PRILûTOû
RElNANCEûDEBTûANDûDIVERSIFYûITSûFUNDING
4ECNIMONTûAGREEDûTHEûõMûlVE
YEARû
TERMûLOAN ûOFûWHICHûõMûWILLûBEûUSEDûTOû
REPAYûINûFULLûTHEûREMAININGûPORTIONûOFûAû
õMûTERMûLOANûORIGINALLYûARRANGEDûINû
4HEûLOANûWASûSIGNEDûWITHûBanca IMI ûBanca
Monte dei Paschi di Siena ûBanco BPM ûIntesa
Sanpaolo and UniCredit
"ANCAû)-)ûISûFACILITYûAGENT
4HEûCOMPANYûHASûALSOûINCREASEDûANûEXISTINGû
REVOLVINGûCREDITûFACILITYûTOûõMûFROMûõM
4HEûRElNANCINGûSEESûTHEûINTERESTûONûTHEû
COMPANYSûDEBTûREDUCEûTOûûFROMû
4HEûPREVIOUSûõMûLOANûWASûEXTENDEDû
BYûAROUNDûûMONTHSûINû!PRILûûVIAû
GLOBALûCOORDINATORû"ANCAû)-) ûTOGETHERûWITHû

EMEA LOANS BOOKRUNNERS – FULLY
SYNDICATED VOLUME
BOOKRUNNERS: 1/1/2018 TO DATE
Managing No of Total Share
bank or group issues US$(m) (%)


1 BNP Paribas 113 34,456.27 9.0
2 JP Morgan 43 27,551.08 7.2
3 SG 84 23,134.17 6.0
4 Credit Agricole 106 22,737.03 5.9
5 Citigroup 53 18,923.92 4.9
6 Deutsche Bank 61 18,455.54 4.8
7 UniCredit 88 18,324.94 4.8
8 HSBC 71 15,588.99 4.1
9 ING 75 15,477.14 4.0
10 BAML 40 13,782.81 3.6
Total 423 384,387.44
Proportional credit
Source: Thomson Reuters SDC code: R17

Free download pdf