Banks

Eager demand for hybrid capital issues, amid an environment of low rates, was on show again on Monday, when LafargeHolcim issued its first big deal of this kind. The pricing was tightened by an exceptional amount during the bookbuild — 69bp.

Otto, the family-owned German online and catalogue retailer, brought its first sustainable bond issue on Thursday. But despite it offering an interesting new flavour to green bond investors, the deal's sale produced an underwhelming result.

Following European bond issues by Volkswagen Financial Services, Volvo Car and RCI Banque last week, another car company entered the market on Monday. Toyota Finance Australia issued a two and five year bond that showed the market was very much open for business and full of demand.

The dollar market is expected to provide just a handful of deals this week, with a benchmark for the Province of Quebec and a short dated floater for Eurofima up first.

Loxam, the France-based equipment rental company, is refinancing a secured and subordinated high yield bond with a twin tranche new issue this week.

A trio of public sector borrowers hit screens with mandates on Monday ahead of what SSA bankers say will be a busy week of supply following a glut of benchmark issuance towards the end of the first quarter.

Berry Global said on Monday that it has added more banks to the financing for its purchase of UK packaging group RPC, one of the year’s hotly anticipated new money leveraged loans.

Neopost, the French postal equipment maker, is marketing a dual currency Schuldschein, becoming the latest in a run of French firms to enter the market.

Carlo Palombo and Colin Bermingham were sentenced on Monday by a UK court for manipulating Euribor rates during the financial crisis.

AstraZeneca, the British-Swedish pharmaceuticals giant, has priced a historic £2.7bn accelerated transaction ($3.5bn) to fund a transformational oncology collaboration. But sources close to the deal say that execution was complicated by Brexit drama last Friday.

Man Group has plucked an investment director from GAM to head up its European private debt business, and lead Man GPM's commercial and real estate debt team.

Adevinta, the online classified advertising division of Norwegian media group Schibsted, has set the price range for its IPO on the Oslo Børs, which may value the company at up to Nkr55.8bn (€5.8bn) if the deal is priced at the top of the range.