Barclays

The European Stability Mechanism reopened the euro benchmark markets for SSA borrowers on Tuesday with a €5bn dual tranche deal.

KfW paved the way for a slew of dollar mandates from SSA borrowers on Tuesday with a $5bn new issue.

As fertiliser firm EuroChem refinances a five year old loan, the borrower will find that pricing and lenders in the Russian market are changing, according to two bankers.

The IPO of Enav, the Italian state air traffic control network, has already received enough orders to cover the entire deal, including the 9% greenshoe, a source close to the deal said.

Majid Al Futtaim (MAF) printed a $300m opportunistic tap of its May 2024s on Monday to re-open the Gulf Corporation Council bond market after Ramadan.

Bookbuilding for the €805m IPO of Enav, the Italian state air traffic control network, will begin on Monday, July 11, the Ministry of Economy and Finance said in a statement late on Thursday evening.

The Bank of England cut the UK’s countercyclical buffer requirement with immediate effect on Tuesday, softening risks associated with payments on additional tier one (AT1) debt.

It was a rough day for stocks on Wednesday, but a great day for equity capital markets, with two convertible bonds launched and priced — the first since the UK’s vote to quit the European Union was revealed on June 24. They came on top of a roaring reception for Melrose Industries’ announcement of a £1.7bn rights issue for an acquisition in the US.

The European investment grade corporate bond market has been ticking along like a metronome this week, printing a steady deal a day. And encouragingly, big deals have returned.

After reopening the post-Brexit dollar market with a $150m tap on June 23, Rentenbank is coming back for more, opening books for another tap to be priced on Tuesday.

The Bank of England cut the UK’s countercyclical buffer requirement with immediate effect on Tuesday, softening risks associated with payments on additional tier one (AT1) debt.

Pier Carlo Padoan, Italy’s finance minister, who has had his days full dealing with the stress in the country’s banking system, has still not officially announced whether Italy will proceed with the IPO of Enav, the country’s air traffic control system.