Banks

A jumbo €1.5bn block has been launched in Adyen, the Dutch payments processing company, on behalf of a number of the pre-IPO shareholders, after the stock closed up 8.2% to give Adyen a bigger market capitalisation than Deutsche Bank.

German snack food company Intersnack has launched a €150m-equivalent Schuldschein with euro and sterling tranches — evidence, market players said, of the flexibility of the instrument.

Bain Capital has completed the first sale of shares in TI Fluid Systems, the UK maker of fluid delivery systems for cars and trucks, since its IPO last autumn. The deal came in response to several reverse inquiries from investors.

The African Development Bank is taking indications of interest for its second benchmark of the year, which could complete its syndicated funding programme for 2018.

French building materials producer Saint Gobain received overwhelming demand for its second benchmark issuance of 2018. A combined order book of €7bn meant the issuer could have sold a much larger deal than the €1bn size limit it imposed on itself.

Dutch registered machinery and vehicle manufacturer CNH Industrial achieved an order book nearly three times oversubscribed for its first corporate bond sale since Standard & Poor’s raised the company rating to BBB.

France’s Nexity has signed a €2.3bn corporate credit facility, with the real estate developer refinancing early and ramping up the size of its bank line to finance its growth strategy.

Saudi Arabia has come to market for a long 10 year dollar sukuk bond, targeting $2bn, returning for a trade after five month’s absence from the bond market.

Société Générale sold its first non-preferred senior deal in Australian dollars this week, as international banks make better use of the currency for their total loss-absorbing capacity (TLAC) requirements.

Al Hilal Bank (AHB) and Abu Dhabi Islamic Bank (ADIB) are on screens on Wednesday with dollar sukuk benchmarks — the first in a wave of Middle Eastern supply.

French bank Natixis has hired Benito Berber as chief economist for Latin America as it builds out its platform in the region.

Bank of China (Hong Kong) has raised $3bn from a Basel III compliant additional tier one transaction, drawing attention for both its size and price.