Europe

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.

Arima Real Estate, a newly created Spanish real estate investment trust, has managed to get its IPO over the line, but with a much smaller deal size than originally intended.

BioPharma Credit, the UK closed end investment fund that provides debt capital to the life sciences industry, is back in the market with a $150m capital increase to finance its pipeline of investment commitments.

London Stock Exchange Group on Friday announced that it would increase its stake in London-based clearing house company LCH Group by up to 15.1%, bringing its holdings to over 80%.

Shares in Funding Circle, the UK peer-to-peer lending platform, rose more than 5% on Friday morning after the company posted its first quarterly earnings since its £300m IPO on the London Stock Exchange at the start of October.

Société Générale (SocGen) has made two senior management changes in China, expanding its business ambitions in the region.

Green finance experts have hailed the Bank of England’s announcement this week that it intends to tighten supervision of financial firms’ climate risks as an important step forward in greening the financial system. But doubts remain as to whether the Bank will push firms far enough, fast enough.

Zurich Insurance Company pulled off a long-dated bond deal on Wednesday, offering a limited new issue premium from the start for its first euro-denominated senior trade in four years.

Aegon decided against coming to the market for its restricted tier one bond this week, after investors looked unlikely to agree with the coupon it wanted. And on Wednesday, ProCredit Holding pulled a trade after announcing initial price thoughts. Negative headlines continue to hurt issuers.

Stablecoins are a curiosity unique to the cryptocurrency market and, despite the placid sounding name, have been embroiled in some of the hairiest controversies in the market. And they aren’t even stable.

JP Morgan has risen to the top of Dealogic’s euro denominated SSA (excluding US agencies) bookrunner league table to keep it within touching distance of taking the reins from HSBC at the end of the year.

A three times subscribed deal by KfW this week showed that there is plenty of green demand for issuers looking to print in the format in the remainder of the year, as a fellow German agency moved forward with plans to bring a trade.