Europe

Republic of Latvia has mandated banks for a new 10 year, plus a possible reopening of its long end bonds. Bonds issued by CEE sovereigns have held up well over the recent months of trading volatility, and bankers expect the deal to go well.

UK lender Provident Financial plans to buy back a high coupon outstanding senior bond as it looks to issue new notes.

Bank of America Merrill Lynch has hired a banker from SEB to lead its equity capital markets business in the Nordic region.

Telecoms company TDC fired the opening shot of a multi-billion funding package for its leveraged buyout this week, with some investors showing mixed feelings about such deals.

Bank of America Merrill Lynch has appointed the new head of its EMEA equity-linked business from within its own investment bank.

A leaked copy of draft EU legislation, seen by GlobalCapital, shows that the Regulatory Scrutiny Board, a committee that makes sure EU laws are well drafted and not too onerous, has made the Commission water down its plans to tighten regulation of green investment benchmarks. But strong rules are coming on investors’ duty to consider environmental, social and governance matters and the shape of the sustainable Taxonomy is emerging.

The pipeline for this week is swelling, according to an SSA syndicate official, but the focus may shift from last week's emphasis on euros to dollars.

Real estate services company Savills is looking to sell inaugural US private placement notes.

Greencoat UK Wind, a British infrastructure fund focusing on wind farm projects and assets, closed books early on a £180m capital raise on May 17, with the deal well covered.

Team17 Group, the Yorkshire-based video games developer, is scheduled to begin trading on London’s alternative investment market (AIM) on Wednesday, after its £107m IPO attracted “a lot of demand,” according to a banker involved in the deal.

The widening spread impact of lower European Central Bank covered bond purchases has been a key focal point for the market for most of this year but, given much greater rates volatility, duration has a more important role to play, according to one major covered bond investor.

The UK Foreign Affairs Committee on Monday recommended “closing the loophole” that allows Russia to continue to support its sanctioned banks and companies, by prohibiting persons in the EU from buying Russian debt where the bookrunner is a sanctioned entity.