Europe

On Tuesday, Logicor, the largest provider of logistics property in Europe, made its debut in the euro corporate bond market. The €1.8bn three tranche deal is believed to be the largest debut trade by a real estate company in euros.

RusHydro will come to market for a dual tranche deal in rubles and offshore yuan, following a roadshow to promote the bonds.

Corporate bond investors have much to consider. The end of an unprecedented era of quantitative easing in Europe and unpredictable political machinations are adding to the complexities of portfolio management.

Spanish banks were among the best performers in the debt and equity markets on Wednesday, after the country’s Supreme Court surprised market participants by reversing a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans.

A pair of rare euro bonds from sovereign emerging markets borrowers hit the market this week, much to the approval of investors who said the deals provided “good value”.

Turkey hit screens on Wednesday, announcing a February 2026 euro benchmark, following up on its success in dollars in October.

The chief executive of derivatives industry body ISDA has called for more clarity from the European Union over plans to help mitigate the disruptive impact of a no-deal Brexit on derivatives markets.

European markets rose on Wednesday morning, a day after the US mid-term elections in which the Democratic Party regained control of the US House of Representatives, curtailing the amount of power concentrated in the Republicans and with president Donald Trump. There are hopes it could lead to a final few deals before the year ends.

Rentenbank and Eurofima showed that Tuesday’s midterm elections in the US might be hogging most television airwaves but they have been making little waves in the dollar SSA market.

Prudential regulators around the world have mostly confined themselves to pieties when it comes to cryptocurrencies, warning of the need to monitor markets, avoid stifling innovation, but making few concrete moves.

The US private placement (US PP) market considers itself well placed for the volatility surrounding Britain’s expected departure of the European Union on March 29, and participants expect additional deal flow as a consequence.

Qiagen, the Dutch biotechnology company, has returned to the equity-linked market to sell a six year senior unsecured convertible bond with a similar call spread structure to one it sold in September 2017.