Europe

Sirius Minerals has launched a bold $3.8bn financing transaction, combining equity, debt and a new loan facility, to fund the development of its Yorkshire potash mine project. JP Morgan, Sirius's corporate broker, is underwriting and organising the deal.

Spain’s Banco de Sabadell surpassed expectations with its first visit to the non-preferred senior asset class on Tuesday, tightening 35bp during the pricing process and taking away €1bn of new funding.

De Volksbank has mandated joint leads for a non-deal roadshow to market its green bond framework. At the same time Berlin Hyp has boosted reporting standards on its green portfolio.

Yorkshire Building Society issued the most popular euro covered bond of any UK bank ever on Tuesday. Scant UK supply, a popular choice of tenor and a rare double digit premium over mid-swaps, amid negative yields, were key in driving demand.

The arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that though the oversubscribed order books closed on Monday, they have extended the timetable for settlement to allow some investors “additional time to firm up their orders”.

Tottenham Hotspur, the north London football club, is considering selling US private placements to partly pay off bank loans generated by the construction of its new stadium, several market participants have said. Unlike their US equivalents in the NBA and NFL, professional clubs from the UK are a rarity in the market, as the threat of relegation makes them too perilous an investment to some investors. Silas Brown reports.

Dometic Group, the Swedish company that makes appliances for mobile homes, started the week by launching a €250m seven year high yield bond that was tightly priced, perhaps partly because the credit market was otherwise fairly quiet.

Goldman Sachs has hired Sushil Krishan, a UniCredit banker, for its team covering equity derivatives solutions, GlobalCapital understands.

The chair of Deutsche Börse, Joachim Faber, will resign from the stock exchange at its 2020 annual meeting.

JP Morgan is marketing a single-B rated high yield bond to fund the acquisition of developer CG Gruppe by Consus Real Estate, a further sign that the bond market is wide open and keen to take down more aggressive, highly levered deals.

The Spanish region of Navarre has printed its debut sustainable bond. Navarre is the third Spanish autonomous community, behind Madrid and the Basque Country, to issue a sustainable bond.

EPP NV, a Polish firm that owns malls and office buildings, raised over €90m of equity capital in Johannesburg on Wednesday last week.