Europe

Naftogaz had been expected to hit the market for euros on Thursday, but leads said a busy schedule of investor calls led leads to move the deal to Friday and to consider adding a tranche of dollar funding.

Swiss Re is blaming weak investor demand for it postponing the £793m IPO of ReAssure, its UK closed book life insurance division.

Turkish private sector development bank, Turkiye Sinai Kalkinma Bankasi (TSKB), has closed its annual loan refinancing. The deal was signed amid secondary spreads for Turkish bank paper tightening and as a precursor to the next wave of refinancings for the country's financial institutions.

Société Générale attracted strong demand for its inaugural green Obligations de Financement de l’Habitat on Monday. The green covered bond put the French issuer at the “forefront of positive transformation” and “sets a standard”, said a spokesperson.

Westlake Chemical, the Houston-based petrochemicals and plastics company, issued its first euro bond in a deserted investment grade corporate market on Wednesday. With other issuers absent because of earnings closed periods, Westlake's €700m 10 year achieved a decent book and spread tightening that was decent, if not large by recent standards.

UBS has created a new global team focused on private capital markets, giving it more exposure to a rapidly growing area of finance, as companies go public later in their life cycles and the amount of institutional and private money dedicated to private equity has grown and become more sophisticated.

Fiona Gallagher has left her position as global head of security services and chief country officer for Ireland at Deutsche Bank and will become CEO for Wells Fargo Bank International Unlimited Company (WFBI).

Intermediate Capital Group has hired a managing director of subordinated debt and equity in Germany, a new position.

The International Capital Market Association and the European Central Securities Depositories Association have raised concerns with the European Distribution of Debt Instruments project, in response to the European Central Bank’s market consultation.

BNP Paribas launched a non-preferred senior bond in euros on Wednesday, tightening the pricing 20bp from price thoughts despite a 'softer' backdrop in financial markets.

Banco de Sabadell launched a senior preferred bond on Wednesday, just as it prepares to enter earnings blackout. The Spanish bank was able take out two thirds of its €1.5bn funding target for the format this year.

Toronto-Dominion Bank (TD) returned to the covered bond market for the second time this week following its dollar benchmark and, thanks to a late rise in yields, the eight year deal offered more than twice the return of CIBC's eight year issued a week ago.