Rabobank

European financials have found every reason to get into the dollar market early in 2017, leading to a fireworks display of total loss-absorbing capacity (TLAC) senior deals this week. Though market conditions could not have been better to receive the banks, many will have wanted to squirrel away quantities of funding and capital for what could be another troublesome year in the capital markets.

Rabobank’s capital markets operation in Hong Kong has undergone senior staff changes with the departure of a veteran loans banker and the appointment of a new capital markets head.

Shares in Greencore, the Anglo-Irish sandwich and convenience food producer, closed 3% higher on Wednesday after it completed its £439m rights issue to finance its acquisition of Peacock Foods, a US competitor.

Elysium Healthcare, the property portfolio being spun out of the Priory Group to BC Partners, has cut its sterling loan offering to £133m after reaching a ground rent agreement mid-transaction.

Bridgepoint launched a dividend recapitalisation term loan of its restaurant firm the Azzurri Group with a lender call on Thursday afternoon, the private equity firm's second since October.

Dutch construction company Royal BAM Group has refinanced a €417.5m revolving credit facility due to mature in 2018, with a smaller loan of €400m with tighter pricing, after printing a €125m convertible bond in June.

Heineken was the first of five corporate issuers on Tuesday to wrap up its offering, in a rush of supply that took advantage of a more stable backdrop in rates markets.

Commodity trader Gunvor increased its European revolving credit facility by around 50% to meet oversubscribed commitments, having also grown its $725m working capital loan after strong demand.

Greencore Group, the Irish convenience food supplier, has announced plans for a £439m rights issue to partly finance its takeover of Peacock Foods, a US competitor, alongside its preliminary full year results on Monday.

The European subsidiary of US commodity trader Louis Dreyfus is refinancing a $800m dual tranche credit facility after increasing its Asian credit facility earlier in the year.

Two corporates hit the new issue market on Thursday, one clinching a 0% yield and the other paying only a single digit new issue premium, despite volatility in rates markets.

Syndication for the refinancing of $1.235bn of loans for commodity trader Gunvor has closed, with lenders making “significantly oversubscribed” commitments, while competitor Trafigura faces a €2bn maturity this month.