Starting this week with a capital markets deal from Hong Kong, Swire Pacific MTN Financing has undertaken a $5 billion annual update of its MTN programme. Swire Pacific acts as the guarantor of all notes issued under the programme.
It has been eventful seven days in the EMEA region.
In Germany VW Financial Services has secured a €2.5 billion syndicated loan arranged by Commerzbank and UniCredit. The company has focused on leasing, insurance and outside of Europe lending since its separation from VW Bank.
Meanwhile, Wind Tre – the Italian telecommunications company – has secured a $10 billion refinancing package. The company aims to raise €7.3 billion through the issue of euro- and US dollar-denominated high-yield bonds along with a €3 billion loan facility, both of which are to be used for the replacement of existing debts.
There has also been some notable activity taking place in the capital markets space, with one example seeing the Credit Suisse Group issue $1.5 billion senior notes listed on the SIX Swiss Exchange.
On the equity side of things, Holmes Place has undertaken an IPO on the Tel Aviv Stock Exchange. The issuer is a fitness studios operator and aims to offer shares worth NIS90 million.
Npower – owned by Innology in Germany – and SSE have undertaken merger procedures in a deal which would reshape the market for retail power and gas in the UK. The merged entity will own more than 50% of the market if it goes ahead.
In Denmark, Pension consortium has acquired an 11% stake in Nykredit for DKr11.6 billion. The pension consortium consists of PFA, PensionDanmark, PKA, AP Pension and MP Pension.
Finally, in France, Total is willing to pay $1.49 billion, plus an additional amount up to $550 million, for the acquisition of Engie's upstream LNG assets. The deal would allow Total to integrate along the full gas value chain.