Europe

With yields compressed in the short end, bank treasuries are moving further along the SSA curve for bigger returns, creating a sweet spot in the 15-20 year segment.

Romania printed a €3bn triple trancher this week, the country’s largest ever euro deal, with one of the three tranches also being the longest ever euro bond from the country.

European bourses have often been shunned by technology firms eager instead to find a home in supposedly more sector-friendly New York. But following a raft of payments tech IPOs, the announcement this week that South Africa's Naspers will list its international assets — including its $100bn Tencent stake — in Amsterdam is the biggest statement yet that views are starting to change. Sam Kerr reports.

A series of modest taps at the long end of the Australian dollar curve at the end of last week suggests that what has been a quiet market for Kangaroo bonds could soon spark into life, according to SSA funding officials.

Shares in Deutsche Bank, the largest bank in Germany, fell as much as 4.5% on Thursday after reports that it is considering raising fresh equity capital to finance its potential merger with Commerzbank, two years after its last €8bn rights issue.

The SSA green bond market looks set for a busy few weeks, with the Dutch sovereign and Instituto de Crédito Oficial (Ico) primed to print debuts following SNCF Réseau’s tapping its green paper on Thursday.

The French bank is continuing to execute its plan to become Europe’s leading corporate finance house, despite headwinds and looming consolidation, writes David Rothnie.

Ireland is eyeing a benchmark linker after a successful private placement on Tuesday.

An obscure but growing asset class has received a stamp of approval from one of the most celebrated investor types: sovereign wealth investment has started to flow into litigation finance.

Germany saw strong demand this week for its first 10 year auction with a negative yield since May 2016, as investors pile into safe haven assets amid fears of a global slowdown in growth.

Bank Nederlandse Gemeenten was upgraded by Fitch on Thursday, returning to triple-A status with the credit rating agency for the first time since 2015.

SNCF Réseau reopened its December 2047 green bonds for a €250m tap on Thursday, with the issuer bumping up the liquidity of its long dated debt.