Barclays

UBI Banca became the first Italian lender to print tier two capital this year on Wednesday, laying the foundations for more periphery capital to follow.

Signs of progress under new chief executive Jes Staley saw Barclays shares up almost 4% early on Wednesday, but with profits down 25% and return on equity languishing at 3.8% in the first quarter, they were soon trading down.

The European Stability Mechanism rode the crest of a wave of demand for duration on Tuesday to complete its remaining funding needs for the second quarter, as Unédic looked to hit a shorter maturity.

Travelodge Hotels, the UK budget hotel chain, on Tuesday began marketing a £360m two tranche bond, its debut issue, in a European high yield market still eager for confirmation that deal flow will pick up in the coming weeks.

Kuoni, the Swiss travel company, will hold bank meetings on Thursday for debt backing its buyout by private equity firm EQT, following a near three month gestation period.

Books for Turkiye Cumhuriyeti Ziraat Bankasi’s $500m bond closed with books over $2bn on Monday and the bank paying only a 10bp new issue premium for the note, according to a lead manager.

Türkiye Vakiflar Bankasi (Vakifbank) brought a load of new faces to its investor base when it issued Turkey’s first publicly syndicated euro benchmark covered bond — at an extremely low cost of funding.

The European Stability Mechanism is set to fill a gap in its maturity curve on Tuesday with its first ever 15 year euro benchmark, while other issuers are expected to follow the supranational with deals in the currency.

Taghleef, the Dubai-based food packaging film maker owned by Al Ghurair Group, has tightened pricing on its €285m-equivalent seven year term loan ‘B’ to a margin of 450bp, offered at 99.

Spanish IT company Amadeus will complete its €500m revolving credit facility later this week with some changes to its bank group, according to a banker familiar with the deal.

Books for Turkiye Cumhuriyeti Ziraat Bankasi were at $1bn before the US open on Monday for a five year senior unsecured bond.

Turkey's Dogus Holding is talking to banks about a loan of $400m, according to three bankers. A deal would closely follow one from Borusan Holding, which signed a loan earlier this month that was snubbed by international lenders.