Europe

Nykredit Realkredit and Société Générale paid next to no new issue premium for their new non-preferred senior bonds on Monday, though some bankers have begun to wonder how much longer these pricing dynamics can hold.

Rainer Wagner is leaving Barclays, six months after it was announced he would be taking on more responsibilities at the bank.

Standard Chartered is expected to launch its first sustainability bond on Tuesday, having picked banks to arrange a deal that will mark its first entry into the public euro market since September 2017.

CTP, a commercial real estate developer based in Czech Republic, has signed a €1.9bn loan in one of the largest real estate packages to enter the syndicated loans market in central and eastern Europe ever.

Three Nordic banks and one British bank placed paper in Swedish krona this week. NatWest Markets made its debut in the currency, while Scandinavian-based Avida Finans printed its first AT1. Avida Finans plans to follow this debut AT1 with a future stock exchange listing.

IPO volume in London is up year-to-date despite the political uncertainty hanging over the market, driven by cross-border issuance and issuers using the delay in the UK’s departure from the European Union to do deals.

This week's funding scorecard looks at the progress European sovereigns have made in their funding programmes so far this year.

Shares in Trainline, the UK transport booking website, surged in the aftermarket on Friday after the company priced its £950m IPO near the top of its price range, having attracted stock orders from around 270 investors, according to a source close to the transaction.

Société Générale has appointed Sadia Ricke to be deputy chief risk officer, while Christophe Lattuada will become group country head for the UK and Ireland.

Russia saw more than $8bn of orders at peak demand for a tap of its 2029 and 2035 Eurobonds, with the sovereign getting such a rapturous response that it paid zero to negative new issue premiums.

In this round-up, China’s holdings of US treasuries reached the lowest level in two years, the Ministry of Commerce (MoC) promised to unveil foreign investment negative lists in 10 days, and Bank of China (UK) can now provide clearing services in London.

A corner of Europe’s capital markets that up to now has offered both stability and growth — German housing companies — has been thrown into turmoil by a five year rent freeze on all housing, proposed by the State of Berlin, write Silas Brown, Aidan Gregory and Jon Hay.