Europe

Kingspan, an Irish insulation company, has made a €700m offer for two units of Belgium’s Recticel, but will sell one of them if the deal goes ahead.

Matthias Gaab, Deutsche Bank's head of acquisition finance and investment grade loan origination for Germany, Austria and Switzerland, retired on April 1.

Equity capital markets bankers are in discussions with European governments about privatisations of state assets, but political upheaval has blocked several projects. Politicians are nervous of damaging headlines if they sell assets to the market.

MUFG has relocated 21 staff to Paris, including all its European DCM origination bankers, all its sales people who cover European investors and an MTN banker.

Société de Financement Local (SFIL) is preparing a green bond framework ahead of a debut trade for the development bank and its subsidiary, Caisse Française de Financement Local (Caffil).

Raiffeisen Switzerland chalked up a notable first for Swiss francs on Monday when it priced the market’s inaugural sustainable bond. Endorsed by a second-party opinion from ISS-Oekom, the Sfr100m ($99m) five year issue was priced at mid-swaps plus 43bp, for a yield to maturity of 0.06%.

Credit Suisse has made a number of hires from other banks in investment grade trading for its London office, according to an internal memo seen by GlobalCapital.

Wells Fargo attracted plenty of interest in a new five year senior bond in euros on Wednesday and was able to squeeze all of the new issue premium out of the transaction, its first in euros for two years.

Moody's has given Estonia’s newly established covered bond framework a mixed report, an assessment that will be a helpful guide for the other countries in the Baltic region, which plan to use special purpose vehicles to get around some of the problems their neighbour faces.

Equity investors have made solid returns so far in 2019, but many are wary about the pricing of European IPOs, where some sellers look like having high expectations.

Despite the very attractive conditions in Europe's corporate bond market in recent weeks, some less regular issuers have missed out on them because they were scared off by the rough markets at the beginning of the year.

Euro investors have been treated to their first two ‘bail-inable’ senior bonds from a Canadian bank this week, after Bank of Nova Scotia followed closely behind Toronto-Dominion Bank with a deal of its own on Wednesday.