Europe

Most European leveraged loan deals in October are achieving savings of 25bp and more over price talk, with demand on the rise. The loan offering to fund Advent’s buyout of Distributed Power confirmed this trend, as it tightened margins and issue discounts.

After celebrating German Unity Day on Wednesday, Deutsche Telekom (DT) wasted no time in getting back to its capital markets work with its first visit to the sterling market in 18 months, satisfying some of the latent demand in the currency.

Mizuho Financial Group came to the market on Thursday with a five year senior bond in euros, just as Mitsubishi UFJ Financial Group did on Monday. This week’s Japanese supply has taken the year’s total to a new record.

There was limited demand for an additional tier one transaction from Volksbank Wien on Thursday, preventing the bank from tightening pricing during the process of the sale.

Eurotorg, the biggest supermarket group in Belarus, has announced its intention to float on the London Stock Exchange, paving the way for the first big international IPO of a Belarusian company.

When celebrated investor Bill Gross said that 'bonds, like men, are in a bear market,' he was on to more than he might have realised.

Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.

The Danish Financial Supervisory Authority has increased Danske Bank’s capital requirements for a second time following an investigation into money laundering through its branch in Estonia. The scandal-stricken lender said on Thursday that it was ending its share buy-back programme to comply with the new targets.

A dearth of corporate bond supply on Wednesday, due to a German public holiday, was followed by deals from airport operators in two markets on Thursday. Aéroports de Paris (AdP) opted for the domestic route, while Heathrow made its first visit to the Australian market.

Piraeus Bank, the largest bank by assets in Greece, said on Thursday that it was monitoring market conditions with a view to raising tier two capital.

Italian cigar maker Sigaro Toscano has postponed its Milan IPO because of stock market volatility.

The European Stability Mechanism sent out a request for proposals on Wednesday for its first trade of the fourth quarter, which SSA bankers said will likely be a large deal in the euro market.