Europe

One Housing, a UK housing association focused on London and southeast England, has sold £150m of secured and unsecured US private placement notes to institutional investors.

Aperam, the steel producer headquartered in Luxembourg, has entered the Schuldschein market, on the hunt for at least €100m.

German equity capital markets are likely to be quiet for the rest of the year amid a worsening outlook for the country’s economy, which has been battered by trade tensions between the US and China and is also highly exposed to the threat that UK may crash out of the EU without a deal in October.

International investors are divided over whether to put more money to work in the Russian domestic bond market after the latest round of US sanctions against the Russian sovereign.

HSBC Bank Canada is set to meet investors with a view to issuing the first dollar covered bond since the summer break and its second covered bond ever. The plans comes amid a growing euro pipeline and follows the first deeply negative yielding euro trade.

Investors showed resistance to Germany's first ever 30 year bond sale without a coupon on Wednesday, as the total bids fell below the size of the trade. However, some analysts said the trade offered good value, with yields set to fall further as the European Central Bank prepares to inject fresh stimulus into the eurozone.

The return of heightened market volatility this summer is leading to investors looking at defensive assets as fund managers consider how to ride out a possible turn in the economic cycle.

Belfius Bank picked a long enough maturity for its deal on Wednesday to avoid becoming the first European bank to issue senior bond at a negative yield.

RSA Insurance Group won strong demand for a new £350m senior unsecured offering this week, as bankers spoke of appealing conditions in the sterling market.

The first investment grade euro corporate bond since Daimler's €3bn four trancher at the beginning of August appeared on Wednesday morning. E.ON, the Baa2/BBB rated energy company, is in the market with a debut green bond — a benchmark five, and 10.5 year dual tranche deal.

Assa Abloy, the Swedish door maker, locked in €100m of long dated euro paper on Monday. The 15 year note, according to bankers, does not fit the Swedish issuer’s usual maturity profile, and is its first in the maturity since 2015.

Albaraka Turk Participation Bank and the Islamic Development Bank have signed a $40m Islamic financing facility to support small and medium enterprises in Turkey.