Europe

The cost of insuring Turkish government debt has shot up as Turkey’s president Recep Tayyip Erdogan has refused to give way in a dispute with the United States.

Equity and debt markets are preparing for a full blown crisis in Turkey and even though its currency pulled back from its early-week lows, investors are worrying about debt defaults.

UK real estate investment trust Segro has sold €300m 10 and 15 year US private placement (PP) notes, to a group of institutional investors.

Giancarlo Giorgetti, undersecretary to the Italian prime minister, has said that he expects the country to suffer an “attack” in the financial markets by the end of the month.

Berlin property company ADO Properties had planned to issue its second corporate bond in recent weeks, following a successful investor update. However, a high profile bribery case in Israel has put the deal on hold for now.

The nominations for GlobalCapital's Sustainable and Responsible Capital Markets Awards 2018 have been revealed, as a result of our worldwide market poll, conducted in July.

The European Central Bank will drop its waiver for Greek bonds to be used as collateral, following the sovereign’s exit from its third bailout programme on August 20.

The Bank of Italy’s (BoI) proposal to loosen Obbligazioni Bancarie Garantite (OBG) issuance restrictions should be credit positive for the country’s small banks said Fitch in a report on Friday. Despite that, an improvement in distributed supply may prove limited.

Sports Direct announced it has bought House of Fraser on Friday, but the retailer had already entered into administration just hours earlier, meaning investors will be unable to trigger what would have been a lucrative change of control covenant in the firm’s bonds.

Glenveagh Properties, the Irish housing developer owned by Oaktree Capital, has concluded the final leg of its €213m placing, conditional placing and open offer, which it originally announced in July to finance the acquisition of more land in Ireland.

Bank of America Merrill Lynch has made sweeping changes to its European equity capital markets franchise and has hired Credit Suisse’s Jerome Renard for a new position of head of EU ECM.

Rabobank's head of sustainable markets has left the bank, to take up a job in Brazil. He will be replaced by a colleague who has worked in sustainability for many years.