Europe

The first half of the year is expected to be a quiet one for equity capital markets deals in the Benelux region, despite a healthy pipeline of deals, due to the political risks facing the eurozone.

Credito Emiliano has successfully issued the first Obbligazioni Bancarie Garantite of the year. Some bankers believe the bond issue sends a strong signal to issuers struggling to fund in the senior market and should therefore catalyse supply, but other have their doubts.

Turkey made its first capital markets foray of the year with a $2bn bond issue on Wednesday. But bankers were divided on the deal's success.

France’s ESI Group has signed a €40m syndicated loan, with the virtual prototyping company adding to its banking group through the deal.

Westpac New Zealand drew strong support for its five year covered bond on Thursday which took advantage of the strong demand and performance identified in ANZ New Zealand’s earlier deal.

Crédit Mutuel Arkéa and Deutsche Pfandbriefbank were the latest European banks to take advantage of this week's calmer markets to raise senior preferred debt.

Triton Partners has provided one of the first significant tests of equity blocks market sentiment in 2019, with a €108m sale of shares in Befesa, the German metal recycling firm, that went public in Frankfurt in 2017.

Minutes from the European Central Bank’s latest monetary policy meeting reveal that Governing Council members suggested revisiting a scheme allowing banks to access cheap liquidity.

Danske Bank is waiting until activist investor Bill Browder gives a press conference before deciding whether to proceed with the sale of a senior non-preferred bond. News of the conference derailed the deal on Wednesday, after final terms and a $3bn size had already been set.

CaixaBank was testing the strength of appetite for riskier debt instruments in the euro market on Thursday, bringing the lowest rated deal from bank so far this year.

Yapi Kredi sold the first ever public additional tier one (AT1) bond from Turkey on Wednesday, which leads said would act as a benchmark for future issuers from the country despite the deal having been largely sold to the borrower’s shareholders.

French toll road operator APRR started its funding plans earlier than previous years when it sold a €500m nine year deal on Thursday. The company’s November deal was its only transaction in 2018, but even in busier years it has waited until May to get started.