Banks

Waste Management was the first issuer to tap the dollar bond market after Tuesday's US presidential election, taking the plunge as vote counting continued and Joe Biden edged towards victory.

Pre-funding is likely to be the name of the game in FIG from next week, with banks expected to use supportive market conditions in the wake of the US election to launch a final flurry of deals before the end of the year.

The Dutch arm of Air France-KLM staved off what looked like certain collapse this week, with the company negotiating a deal with a pilot’s union to put a vital €3.4bn government bailout back on course.

Natixis said on Thursday that it was promoting two bankers to co-heads of CIB, following Marc Vincent’s move to global head of M&A.

Banca Monte dei Paschi di Siena confirmed on Thursday that it was looking at options to strengthen its capital position, with the full support of the Italian government. Trading had already been heating up in its tier twos, as investors have been forced to consider whether a capital raise will require burden sharing under EU state aid rules.

Société Générale’s third quarter investment banking figures showed a sharp improvement from earlier in the year, as the impact of the European dividend cancellations and losses on complex structured products washed out of the numbers. But the French firm’s financing activities, geared more to aircraft and project lending than its rivals, have seen less benefit from booming corporate debt markets.

Russia's second largest gold producer Polymetal has raised a green loan.

Valuations carried on climbing in the bank bond market on Thursday, as investors appeared keen to look beyond the uncertain outcome of the US presidential election.

Some market participants say the European Central Bank could open itself up to buying preferred senior bank debt if it expands its purchase programmes in December.

The Reserve Bank of Australia has announced plans to explore the potential uses and implications of a central bank digital currency using distributed ledger technology. The RBA follows the Banque de France, which last year worked with Société Générale to settle a crypto covered bond — a product that offers a number of ways to deploy blockchain technology.

The Dutch arm of Air France-KLM has negotiated a deal with the country's pilot’s union, putting a vital €3.4bn government bailout back on course.

Swedish fintech company Nordnet is preparing to test investor sentiment towards European IPOs following the US election, having announced its intention to float on Nasdaq Stockholm.