Europe

Rhian-Mari Thomas has left her role as global head of green banking at Barclays to become the first chief executive officer of the Green Finance Institute. It is thought two bankers have been lined up to manage the ESG banking and capital markets division at Barclays.

Investors are clear that president Recep Tayyip Erdoğan is once again to blame for another tumultuous week in Turkish assets. The country’s fate in the capital markets is in his hands. Investors have been quick to forgive in the past but their patience is not infinite.

Fidelity National Information Services (FIS) went to market today to issue a six-tranche euro and a two tranche sterling deal. It intends to raise debt to finance the acquisition of Worldpay as announced last month.

Alpha Bank’s subsidiary in Romania has issued its inaugural covered bond (CB) — the first from the country. The ground-breaking deal represents an important milestone in the development of the Romanian capital market and helps diversify the bank’s funding.

Novolipetsk Steel (NLMK), a Russian steelmaker, is embarking on a roadshow to market a dollar benchmark bond with a five to seven year maturity as issuers and investors brush off the risks of further US sanctions on the country.

Korea Railroad Corp turned west on Monday, marketing a six year bond to Swiss investors.

Aviva Investors’ head of private corporate debt has left the firm.

Kames Capital has appointed Thomas Hanson as head of high yield fixed income and Eleanor Price as a high yield analyst.

Baxter International, the US medical equipment company, chose the euro market on Friday for its first bond issue of any kind for two years. The €1.5bn deal followed another euro issue in 2017. Not since 2016 has Baxter issued in dollars.

City of Paris mandated banks on Monday for a new 20 year bond that will extend its curve to 2039.

Private debt and loans bankers are trying to work out possible approaches to the City of London Corporation’s plans to return to capital markets for the first time in a generation when it looks to raise around £1.75bn ($2.24bn) over the next three years, writes Mike Turner.

UniCredit Bank AG (HVB) and Hypo Vorarlberg Bank AG are expected to open books on Tuesday for Pfandbriefe in the 15 and eight year tenors. The longer deal follows a series of other long-end trades and may be followed by more, as borrowers take advantage of remarkably strong market conditions to do their most difficult deals.