Rabobank

Refresco’s $1.25bn acquisition of Cott’s drinks bottling business raises monopoly concerns, the UK Competition and Markets Authority (CMA) said this week. But market sources see a quick fix ahead.

Three bankers' jobs are understood to be at risk at Rabobank in London, including one experienced loans banker.

Dutch lawmakers have started working on legislation that will eventually allow the country’s banks to start issuing non-preferred senior bonds for the minimum requirement for own funds and eligible liabilities (MREL).

Cemex, Thomas Cook, Telenet and Lowen Play injected €1.7bn of bond offerings into a visible high yield issuance pipeline already populated with Pinewood and CeramTec this week.

Lead banks have scheduled a December date for the syndication of a €3bn equivalent multicurrency loan package that is supporting PAI and British Columbia Investment Management Corporation’s leveraged buyout of bottling company Refresco.

Europe's IPO market may be winding down, with only small, niche deals still being announced, but block trades are popping. This is likely to lead to a nail-biting finish in the league table race.

Koninklijke Philips, the Dutch healthcare technology company, sold a 12% stake worth €564m in its spun-off subsidiary Philips Lighting on Tuesday through its third accelerated bookbuild in the stock. It was priced at a 3% discount at €32 a share, but traded down on Wednesday and Thursday.

Dividend recapitalisation deals, such as the ones ChemicaInvest and Ten Cate launched this week, are on the rise. The move, considered aggressive by leveraged loan investors, is nevertheless becoming more common and accepted in the present issuer’s market.

The dollar tranche of Ülker’s second loan of the year has been priced 20bp tighter than on its first loan of 2017, suggesting the market is swinging in Turkish borrowers’ favour as political noise in the country quietens down.

Dutch polymer and resins group ChemicaInvest increased the size of its loan deal at the tight end of guidance on Wednesday, as it repriced its old debt and paid a dividend to its sponsors CVC and DSM.

Ülker has signed a $450m loan with 15 banks. It is the second time this year the Turkish biscuit maker has come to the market, with both loans oversubscribed despite political instability in its home country.

Dividend recapitalisation deals, like Ten Cate’s new €125m term loan, launched on Tuesday, are on the rise. The technique, considered aggressive by leveraged loan investors, is nevertheless becoming more common and accepted in the present issuer's market.