17 March 2010
Ineos, the privately owned UK chemicals company, will hold bank meetings in London and New York next week as it tries to raise Eu1bn of term loans and high yield bonds to refinance existing debt. read more »
Prospects for a large scale syndication of Merck KGaA’s acquisition loan dwindled on Wednesday after the company issued Eu3.2bn of bonds.
UK retailer Pets at Homes’ £510m loan, the biggest European LBO facility this year, has been signed and went free-to-trade on Tuesday, said bankers close to the deal.
Commodities trader Trafigura Beheer has increased a planned $1.5bn revolver after the deal was oversubscribed by nearly $1bn, it said on Wednesday.
16 March 2010
US clothing group Phillips-Van Heusen is set to tap the European loan market imminently as it looks to sell down a $2.5bn crossover facility backing its Eu2.3bn ($3.2bn) takeover of Tommy Hilfiger, bankers close to the deal said on Tuesday.
Nord Stream will send requests for proposals for a Eu2.5bn project finance loan this summer, the company said on Tuesday as it announced the signing of the Eu3.9bn facility backing the first phase of the gas pipeline’s construction.
15 March 2010
Banks’ responses to a $13bn syndicated loan from Belgian brewer Anheuser-Busch InBev are due in the middle of this week, said loans officials involved in the deal, which was launched only last week.
EuroWeek, in partnership with Euromoney Seminars, interviewed some of the key participants at the recent 9th Annual Islamic Finance Summit in London. We asked leading industry figures to share their views on the latest developments in the Islamic finance world, including the creation of a new framework for derivatives and the push towards forming a true cross-border local market in the Middle East.
Video content produced by Euromoney Seminars - find out more at www.euromoneyseminars.com/eventsAbove, Mukhtar Hussain, CEO at HSBC Amanah, discusses whether or not the Islamic finance market is poised for further growth, how this can be achieved, and if Islamic products can bridge the gap left behind by conventional financing in the Middle East and Asia.
Click on the links below to hear:
Dr Hussein Hassan, head of structuring for Middle East and North Africa at Deutsche Bank, discuss the volume of Sukuk to be issued this year, where spread levels between Sukuk and conventional bonds will move, and the regulatory changes needed for Gulf markets to take off.
Dr. Mohamad Nedal Alchaar, secretary-general of AAOIFI, explain why Islamic finance needs deeper secondary markets and also says the industry should consolidate Sharia practices globally.
Robert Pickle, executive vice chairman, ISDA, explain why the Tahawwut master agreement, the first document for hedging transactions based on Sharia principles, is important for Islamic finance. He also says derivatives won’t be used for speculation, which is banned under Sharia rules.
Davide Barzilai, Partner, Norton Rose on why to attend the Islamic Finance Summit, where the Islamic financial market is at and where Norton Rose are focusing.
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