Europe

Euroclear Bank came to the market on Tuesday for €1bn of senior euro-denominated debt, in its first ever trade. Its notes were heavily subscribed.

Crédit Agricole and Münchener Hypothekenbank (MuHyp) found good demand for their covered bonds on Tuesday, but it was Crédit Agricole’s transaction that really stood out by virtue of its size and maturity, which until now had been viewed with trepidation.

Société Générale on Tuesday announced that it had agreed to buy Commerzbank’s equity markets and commodities business (EMC), including market-making flow and products trading as well as exchange-traded fund (ETF) subsidiary ComStage.

European banks remain divided on whether to make their minimum requirements for own funds and eligible liabilities (MREL) public, as the Single Resolution Board presses on with informing financial institutions of their first sets of binding targets.

Lietuvos Energija, a quasi-sovereign utility company that is fully owned by the government of Lithuania, was on track this week to price its second green bond. The deal will also mark the first trade from central and eastern Europe in over two weeks and offers an over 100bp pick up over the sovereign.

HSBC has hired Nicolo Salsano, the former chief investment officer, Europe, for Anbang Group, as head of corporate and institutional banking for Germany, filling the gap left by Norbert Reis.

Opera’s planned $115m Nasdaq IPO now has a cryptocurrency angle after Bitmain, a Chinese bitcoin miner, joined the deal as an anchor investor.

French car parts distributor Autodis announced an add-on of its only floating rate bond on Monday, amid higher average high yield funding costs but with investors confident that the market can cope.

Voters rewarded a five year dollar print from Finnvera — the first in that tenor from a European SSA since March — with strong scores across the board.

The shares of Amigo are trading up almost 6.5% from its IPO price on its second day of trading, with investors keen to get exposure to the guarantor lender.

Consus Real Estate, the German property development company, has fixed the terms for a €287m capital increase that it announced last month to finance its pipeline projects.

Issuance of US private placement debt has fallen by up to a quarter year on year, according to US PP market participants. The fault lies in the US — as opposed to Australia and Europe — as the cost of debt begins to rise for issuers alongside US rate rises.