Europe

Korea Housing Finance Corporation (KHFC) has mandated leads for its first covered bond secured on mortgages with a social cause. For the first time, the borrower is open to issuing in euros.

Bain Capital is preparing to test whether sentiment towards French IPOs has improved post-summer, by floating Consolis, the concrete producer, on Euronext Paris.

Skipton Building Society’s inaugural euro denominated covered bond attracted strong demand, with the generous starting spread securing early order book momentum.

The European Central Bank has reduced the maximum size of its orders in the primary covered bond market from 30% to 10%, based on the evidence of a €500m 10 year social Pfandbrief issued on Tuesday by Deutsche Kreditbank (DKB).

General Electric’s distributed power unit began marketing a $1.8bn leveraged buyout loan. The deal has high net leverage and tight pricing guidance, two of the possible risks in the market underlined by the Bank for International Settlements (BIS) this week.

Two Italian IPOs are being marketed to investors this week and bankers are hoping that the release of the government’s updated stability programme on Thursday will not scupper the deal processes.

Kommunalbanken has delayed its green bond benchmark comeback, following its first Kangaroo issue in the format last month.

Eutelsat, the French satellite operator, would have been hoping for similar conditions to the previous week when it announced an investor call ahead of its first corporate bond deal in more than two years. The atmosphere had changed however by the time the deal was marketed on Tuesday.

Financial services veteran Marshall Bailey has been appointed chair of LCH Group, the clearing firm majority owned by London Stock Exchange Group (LSEG).

Sampo, the Finnish insurer, found plenty of demand for a 12 year senior deal on Tuesday, having increased the size of its debt issuance programme to profit from supportive market conditions this autumn.

Santander Consumer Finance did not have to pay too much concession to take senior funding from the market on Tuesday, following on from Société Générale and Royal Bank of Scotland the day before.

Mizuho has hired Mark Currie from Deutsche Bank as head of sterling rates trading.