Barclays

Abu Dhabi-owned Mubadala will wrap up its $2bn refinancing by the end of May and has achieved roughly the same margin as the loan it refinances, according to two sources.

The recent run of good news on IPOs was broken on Wednesday when Telepizza made a dire debut on Bolsa Madrid after its €550m flotation, priced on Tuesday.

Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.

Amadeus, the Spanish airline ticketing systems group, has signed a €500m revolving credit facility with a group of 12 banks, bringing in two new lenders as two dropped out.

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.