Europe

LafargeHolcim has returned to the Schuldschein market looking for an initial size equivalent to €300m, across dollar and euro tranches.

The European Mortgage Federation — European Covered Bond Council (EMF-ECBC) has reached consensus on four critical areas of concern in response to a draft report from the European Parliament’s Economic & Monetary Affairs Committee (ECON) on the European Commission’s proposals for a covered bond legislative framework.

Knorr-Bremse, the historic German manufacturer of brake systems for trucks and trains, has started one of the largest German IPOs of the year, having filed an intention to float document on Monday morning.

SIG Combibloc, the Swiss food and beverage packaging company, began IPO bookbuilding this week in a deal that will return it to the Swiss SIX exchange, more than 10 years after it was taken private.

Nasdaq Clearing said early on Monday that it had replenished 90% of its member default fund, adding it had “no indication” that a member would shirk on its commitments. The deadline for replenishment is on Monday.

Garrett Motion began to market euro bond funding for its separation from Honeywell this week, as high yield investors close on some of the largest deals seen so far this year.

GlobalCapital understands that next month the Loan Market Association (LMA) will publish a set of standardised documentation for issuance in the Schuldschein market. Market players see this as a step in the right direction, as opposed to a leap.

Moody's has praised Lloyds Bank’s first sterling Sonia-linked covered bond for being an "essential" development that will help to create a market for similar deals and limit disruption from the move away from Libor.

Cyprus picked banks on Monday for its first euro benchmark in the 10 year maturity since 2015, following S&P's return of the sovereign to investment grade status.

The flotation of Cepsa, the Spanish multinational oil and gas firm owned by Abu Dhabi-based Mubadala Investment Company, was finally launched on Monday after months of pre-marketing and is set to be one of the largest listings of the year.

Société du Grand Paris mandated banks on Monday to market its debut green bond.

Austria’s FACC has signed a €255m syndicated loan, as the aerospace company consolidates its bilateral credit lines.