Europe

KFW and Bank Nederlandse Gemeenten (BNG) were able to come flat or just through the curve with their long-end trades in the euro public sector market this week.

Network International, the Dubai-based payment company, saw an 18.4% pop after completing its £1bn London IPO on Wednesday, cheering investors in what was Europe’s most talked about listing of the year so far.

Hungry for some social purpose, and perhaps a longer maturity, investors hoovered up Yorkshire Water’s first sustainable bond on Thursday. This allowed the UK utility to tighten the pricing to fair value or even tighter.

Atlas Merchant Capital, the fund founded by ex-Barclays CEO Bob Diamond, has hired Tom King, former chief of investment banking at Barclays.

Société Générale has appointed Demetrio Salorio, its global head of debt capital markets, as UK head of global finance, replacing Alvaro Huete.

Guy Gibson is becoming global head of institutional brokerage at Northern Trust.

Bank Nederlandse Gemeenten (BNG) has cut its total funding requirement for the year.

The decision by the European Union and UK on Wednesday night to extend the country’s membership of the bloc until October 31 prolongs the uncertainty that is deterring UK companies from attempting IPOs.

The European Central Bank’s (ECB) decision to rule out rate rises this year has quietened hopes of convertible bond (CB) issuance reviving in Europe.

MünchenerHyp (MuHyp) issued the longest-ever benchmark Pfandbrief on Thursday, tapping into investors’ thirst for yield amid low interest rates. Investors poured into the book, lodging more demand than for any Pfandbrief issued for at least eight years.

CPI Property Group, a central and Eastern European specialist, raised €550m from a hybrid bond on Tuesday, but the debt slumped on Wednesday when a US hedge fund with which it has been fighting a legal battle filed a new $1bn lawsuit in New York. David Greenbaum, CPI’s CFO, told GlobalCapital the allegations were ridiculous and had been concocted in a deliberate attempt to disrupt the deal.

GTLK, Russia’s state transport leasing company, printed a $500m six year bond on Wednesday from a book of just over $1.5bn.