Belgium

Solvay, the Belgian chemical company, achieved a 95% take-up for its €1.5bn rights issue, which concluded last week, to finance its $5.5bn takeover of Cytec Industries – one of 2015’s most prominent M&A financings in the European equity capital market.

European regulators have dealt a blow to credit default swap investors who are seeking legal reparations against banks on charges of collusion, after the European Commission ditched its long-running antitrust investigation of 13 major banks, citing insufficient evidence.

Xior Student Housing, the newly launched Belgian property company, has completed its IPO, raising €87.8m, with a multiple times oversubscribed book. The money will be used to buy an initial property portfolio worth €196m, through a set of acquisitions.

Deutsche Bank will not be a primary dealer for Belgium in 2016, after the country’s minister of finance, Johan Van Overtveldt did not reappoint the German bank in its updated list for 2016.

The Belgian Debt Agency will have a reduced gross borrowing requirement in 2016 and also plans to buy back €4.55bn of outstanding debt.

European regulators have ditched a long-running investigation of 13 major banks on charges of collusion in the credit default swap market, citing insufficient evidence.

Xior Student Housing has decided to raise the maximum amount it was considering in its initial public offering, after achieving a covered book for the full deal size.

Russian fertiliser producer EuroChem has signed a €200m club loan through its European subsidiary to cut costs, but the deal still carries Russian risk, bankers say.

Solvay, the Belgian chemical company, enjoyed the benefit of the European corporate bond market's blistering return to form this week, when it raised €3.25bn of hybrid and senior debt for its acquisition of Cytec Industries.

Xior Student Housing, the Belgian real estate company focused on student accommodation, has opened the book for an initial public offering in Brussels.

Solvay, the Belgian chemical company, pulled off a triumphant bond financing for its acquisition of Cytec Industries today, issuing five tranches of senior and hybrid bonds that drew €16.85bn of orders in total.

Shares in Solvay, the Belgian chemical company, closed at €103.65 on Thursday, up 3.1% since Monday night, after shareholders voted to approve the €1.5bn rights issue to finance its takeover of Cytec Industries, the US maker of advanced materials.