Lloyds Bank

The UK’s Synthomer plans to raise €600m through a revolving credit facility and privately placed notes, as the unrated chemicals company looks to refinance existing bank debt early.

The Loan Market Association has recruited a trio of loan market stalwarts to its board after its AGM this week. MUFG’s Mathias Noack has retained his place as chairman.

UK banks may have to reassess the make-up of their capital structures after the Bank of England said this week that it could slap a higher minimum requirement for own funds and eligible liabilities (MREL) on groups with regulatory debt sat outside the main resolution entity.

Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.

Lloyds Banking Group sold its remaining stake in Standard Life Aberdeen after the market closed on Thursday night in a £344.3m block trade.

Ireland’s Keywords Studios, which provides technical services for the computer games industry, has signed a €75m three year revolving credit facility with a trio of UK banks. It is ramping up its bank debt amid a period of growth.

The UK’s Pantheon International (PIP) has signed a £175m-equivalent four year revolving credit facility, as the investment trust continues a cash generative phase in which it is seeking to fund new investments from internal cash resources.

GlobalCapital announced the winners of its Bond Awards 2018 on Wednesday night at our 11th annual Bond Awards dinner, at the Jumeirah Carlton Tower in London. Some 280 people were there to see the brightest and best performers in the international bond markets in the past year crowned.

UK property development company British Land has amended and extended its £735m unsecured revolving credit facility, reducing the size of its bank debt while pushing the maturity towards a quiet year on the company’s debt repayment schedule.

The volume of euro and sterling high yield bonds on sale in Europe jumped to €1bn on Tuesday, after NBG Pangaea and Premier Foods hit the market with new offerings. Meanwhile, retail high yield funds enjoyed a second week of inflows.

Bazalgette Tunnel, the company building the Thames Tideway ‘super-sewer’ in London, has all but completed its innovative £2.5bn financing programme, having placed two £50m green bonds last week.

The project company widening London's orbital motorway is set to refinance a roughly £1bn syndicated loan with public bonds in the coming weeks.