Europe

Türk Telekom printed a $500m six year bond on Thursday at 7%, capping an extraordinary week in the CEEMEA bond markets. The company's outstanding paper had rallied following the release of initial price guidance for the bond, such was the demand for exposure to the credit.

The past week has been the busiest of the year so far in the international segment of the Swiss franc market, with European bank issuers accounting for much of the new issue flow.

Banks are circling the additional tier one market, looking to replicate very well received transactions from Crédit Agricole and ING Groep this week.

Tim Haywood has been dismissed from GAM for gross misconduct, after the absolute return bond fund he managed was suspended.

Société Générale’s €1bn eight year and Credi-Mutuel CIC’s €1bn five year are leading the way with the highest mark of all French covered bonds issued this year on GC Bond Marker. But with the survey still open on Caffil’s recent €1bn 10 year social debut, these two issuers could well be knocked off the top spot.

There are just five more weeks until the UK is due to leave the European Union. Is now the time for this old China hand to make his return?

Danske Bank has picked Bo Søndergaard to be its first head of SRI bond marketing in the DCM syndicate team.

Sweden has joined the throng of SSA borrowers making up for the dollar market's weak start to the year, bringing its first deal in the currency for over a year. It follows a trio of new issues that achieved tight spreads.

Rentenbank hit screens on Wednesday to announce a 10 year euro benchmark, joining a resurgence of long-dated euro supply.

The hectic spell of sterling borrowing by SSA borrowers has yet to run its course. A European supranational hit screens in the currency on Wednesday for its second bond of the year in the currency.

UBS is appealing a decision in France that would see it pay €4.5bn after being found guilty of helping clients defraud the tax authorities. The total amount topped market expectations, dwarfed the bank’s provisions for litigation, and gobbled up its 2018 net profits and then some.

FFP Holdings, the investment vehicle linked with the Peugeot family, has sold its remaining stake in DKSH, a Swiss company that offers outsourcing services to others looking to expand their businesses, especially in Asia.