Europe

Logicor’s dual tranche issuance received a mixed reception on Thursday, as the European real estate and logistics company reopened an old note and offered investors a new bond as well.

Nomura announced in its results on Thursday that its wholesale business made a loss both in the fourth quarter and in the year as a whole. The Japanese bank is looking to cut back the division.

Santander’s corporate and investment banking division has created a new role to manage all market sales forces around the world and has picked Krishna Murali to do it.

Svenska Handelsbanken was well received for a new senior unsecured transaction in the sterling market on Thursday, despite having pushed the spread towards a level that some investors might be able to pick up from a covered bond.

John Wood Group, the Scottish oil services company headquartered in Aberdeen, entered the US private placement market late on Wednesday.

The Development Bank of the Republic of Belarus raised $500m with its first ever Eurobond on Wednesday, slicing 25bp off its yield from initial price thoughts.

ASR Nederland was more than 10 times subscribed for a new tier two in the euro market on Thursday, the proceeds of which will be used to finance its takeover of disability insurance specialist Loyalis.

Volodymyr Zelensky's victory in Ukraine's presidential elections last weekend is unlikely to be a catalyst for a burst of corporate or sovereign loan issuance, according to international lenders. Although financing requirements are to remain high, borrowers are expected to focus on bonds and supranationals.

Bar chain Loungers priced an £83m IPO on Wednesday, providing a rare boost for UK mid-cap funds who have been bereft of deals because of Brexit.

Barclays beat expectations in fixed income, currencies and commodities trading (FICC), according to its first quarter results announced on Thursday, which it attributed to a strong performance in rates. This helped to offset reduced fees for deals and an equity trading slump, as its corporate and investment bank seeks to provide the return on capital in the face of shareholder pressure.

Crédit Agricole turned to the Singapore dollar market on Wednesday to sell its latest subordinated transaction, marking the French bank’s first bond sale in the currency.

Valdis Dombrovskis, vice president of the European Commission, joined a chorus of voices at a European Covered Bond Council plenary meeting in Riga this week in praising efforts to create a harmonised covered bond framework for the Baltic states. But market participants said the project still had some way to go, with those involved working hard to flesh out the final details.