Europe

Turkey’s first euro benchmark in four years hit the market on Wednesday, raising €1.5bn with a February 2026 deal before being hit by a sell-off.

Munich Re announced plans for its first trip to the bond markets in six years, with the insurer’s level of leverage deemed inefficient.

Barclays has hired Citi’s Tasnim Ghiawadwala as head of UK corporate banking.

Barclays’ co-head of global debt capital markets and risk solutions group has had his job put at risk by the bank.

Inline warrants are growing in popularity as a means of generating returns when volatility is low.

DNB Boligkreditt took the opportunity on Wednesday to pre-fund as the start of next year is expected to be volatile. The DNB Bank subsiduary issued one of the largest five year covered bonds of 2018. Despite its large size, the deal was priced with a tight new issue concession.

Multifamily Housing Reit, the UK real estate investment trust focused on rented residential properties, has postponed its £175m IPO on the London Stock Exchange, due to a lack of demand.

The market for equity block trades in Europe has reopened with style after a strong European market reaction to the results of the US mid-term elections.

Nederlandse Waterschapsbank will look to fill the €1bn-€1.5bn it has left to raise this year with its annual water bond benchmark and potentially a short end benchmark. That is in keeping with the wider SSA market, where bankers expect SRI issuance to form the bulk of the last trades this year.

BNP Paribas has told between 80 and 90 London-based people in its global markets division that they may need to relocate to the EU in the event of a hard Brexit.

The market volatility of recent weeks has claimed another IPO victim, Belarusian retailer Eurotorg, which postponed its listing on Tuesday, the last day of bookbuilding.

ING is lining up its first ever sale of green bonds from its holding company, having made the unusual decision to sell a tranche of debt in dollars as well as euros.