Europe

The Netherlands Development Finance Co (FMO) has printed its debut note linked to the Haitian gourde. FMO is looking at investing further in the Haitian market, said a treasury officer.

The European Commission is looking to clarify the rules around “precautionary recapitalisations”, having published a review of the implementation of the Bank Recovery and Resolution Directive (BRRD) in the European Union.

Greg Guyett has shaken up the management of HSBC’s global banking division in a move aimed at streamlining coverage and boosting collaboration across divisions and products.

Loungers, the bar chain that priced an £83m IPO last Wednesday, is still trading above issue price, banking gains for its IPO investors.

More than half of Santander’s profits came from Latin America and the US in the last quarter, amid a plan to make savings in Europe and expand across the Atlantic.

The Spanish Socialist Workers’ Party’s success in Sunday’s general election is expected to keep the country’s climate action programme on track, which includes the possibility of issuing a debut green bond.

The retail industry is in deep trouble, especially in the UK, where every other week it seems a storied High Street name tumbles into financial distress. Private equity sponsors, which owned many of the collapsed names, take much of the blame, but they were also victims of structural changes that battered the industry.

Garanti Bank will refinance part of an existing $1.4bn loan by mid-May, joining four other banks amid the Turkish refi season. Although one year spreads have widened slightly in the secondary market, largely due to the weakening lira, bankers believe Turkish financial institution debt is still attractive.

Groupe PSA, the French car maker, has sold more than €500m of Schuldscheine, as a flurry of French firms find fortune in the market.

Public sector bond market participants expect Greece to return to the market next week for its third syndicated transaction of the year.

The head of FIG origination and syndication at NordLB has resigned and is understood to be heading for Landesbank Hessen-Thüringen (Helaba), where he will have an expanded role.

Republican senator Lindsay Graham called for more sanctions on Russia over the weekend, but the threat of these sanctions seems to have become toothless, as foreigners' appetite for exposure to Russia and the rouble has increased in the last few months.