Europe

Blue Ocean Maritime Income, an investment trust seeking to list in London, has decided to postpone an IPO because of investors' newfound risk aversion, in particular towards the shipping industry.

Distribuidora Internacional de Alimentación, a recently downgraded Spanish discount food retailer that issued a profits warning last week, saw its outstanding bonds fall further in the secondary market despite providing a glimmer of good news.

Tritax EuroBox has signed a €200m revolving credit facility, its first outing in the debt markets after the continental European arm of the UK’s large logistics warehouse investor was launched over the summer.

Europe-focused Lundin Mining has amended and extended its dollar revolving credit facility, with the Canadian base metals mining company slashing its borrowing costs and stretching out the maturity of its bank debt.

Kazatomprom, the Kazakh producer of natural uranium, is to proceed with an IPO this year, likely surprising a few who did not expect to see an intention to float (ITF) a mere week after the company filed initial paperwork with the London Stock Exchange.

The covered bonds of National Bank of Greece will be eligible for two bond indices and will attract a substantially lower capital charge following Fitch’s recent rating upgrade. At the same time, Helaba tapped its February 2024 and Münchener Hypothekenbank hit the road with plans to issue its first green Pfandbrief.

Financial institutions avoided the primary market on Monday, despite a positive investor reaction to Moody’s change to Italy’s credit rating. On Friday, Banco de Crédito Cooperativo became the latest issuer to postpone plans against a tough market backdrop.

İşbank has signed a $973m-equivalent syndicated loan as Turkish banks press on with a robust but pricey refinancing season, amid the country’s fiscal recovery.

AVI Japan Opportunity Fund, a new activist investment fund focused on undervalued cash-rich and over-capitalised Japanese equities, is set to begin trading on the London Stock Exchange on Tuesday, after the company priced its IPO.

Ukraine has hit screens for a dollar bond, coming hot on the heels of a $3.9bn loan agreement with the IMF.

Qingdao Haier sealed the first D-share IPO in Frankfurt after pricing near the bottom of expectations, but managing to sell more shares to raise €278.3m.

Türk Ekonomi Bankası (TEB) has signed a $530m-equivalent loan, as lenders predict Turkish banks to continue a strong refinancing season, despite the country's economic and political troubles.