Europe

Société Générale targeted the 10 year part of the curve on Monday, continuing a busy month of issuance for the French bank.

Spain’s largest department store group, El Corte Inglés, picked a busy week to roadshow its first rated issue. But its bonds will be listed in Dublin, despite efforts from the Spanish financial regulator to force a domestic bond listing in Madrid.

Two €500m deals issued by Commerzbank and ASB Finance went well enough. The New Zealand deal attracted new investors and hit the issuer’s funding target. However, Commerzbank was unable to tighten pricing by much, underscoring the impression that market sentiment had deteriorated slightly.

In the first deal from a UK bank since last week’s Salzburg summit, Royal Bank of Scotland came to the market on Monday with a senior bond from its holding company — looking to complete its sixth such transaction this year.

Abanca, a small Spanish financial institution based in Galicia, was offering investors the chance on Monday to buy one of the highest yielding additional tier one securities in the euro market.

The Republic of Albania will go on the road to promote a euro benchmark transaction for the first time in three years.

ICBC Standard Bank on Monday said that it had hired two commodities derivatives veterans to take senior roles in its base metals business.

Trian Partners, the asset manager founded by US billionaire and activist investor Nelson Peltz, has raised £270m for a special purpose acquisition company seeking to take “a substantial minority stake” in a high quality but undervalued company.

Hungary’s Futureal has signed a €150m 10 year loan, with the real estate developer claiming it’s the largest deal of its kind in the country since the global finance crisis began.

Kate Birchall, the former head of portfolio optimisation and collateral at National Australia Bank, has been chosen by LCH to lead the Asia Pacific operations of its London-based clearing house LCH Limited.

Credit Suisse has made a pair of appointments in its EMEA equity capital markets team, elevating two syndicate bankers to ECM origination roles, according to a memo seen by GlobalCapital.

The London Stock Exchange Group (LSE) and the National Stock Exchange of India (NSE) have signed a memorandum of understanding to work together to create a dual-listing route for Masala bonds in the hopes of giving a fillip to the asset class.