Europe

On Monday investors were turning away from Italian bank debt after the Five Star Movement and the League reached a coalition agreement. But some believe the market will shortly rally.

Rolls-Royce & Partners Finance (RRPF), a structured aero-engine lessor owned by GATX Corp and Rolls-Royce Holdings, is looking to raise US private placement debt.

EQT has cleared out its stake in Terveystalo, the Finnish private healthcare company it floated on the Nasdaq Helsinki in October.

Alvarez & Marsal has continued its drive into the transaction advisory business with the hire of four managing directors in Paris. The firm believes the moment is opportune because of regulatory change and the 'Macron effect'.

Sumitomo Mitsui Financial Group is giving investors plenty of notice ahead of its first euro senior bond sale of the year, as the supply of new bank debt backs up around choppy market conditions.

Telecom Egypt has agreed credit lines totalling up to $900m, as Egyptian borrowers find a warm reception from lenders.

Institutional asset owners have increased their use of smart beta strategies in 2018, but the adoption rate has slowed compared with recent years, according to a survey by index provider FTSE Russell.

Kojamo, Finland’s largest private real estate company, has launched an initial public offering and is seeking to list in Helsinki.

Russian oil company Gazprom has signed a €600m five year loan facility from Crédit Agricole, bringing its international borrowing tally above €1.3bn since it regained its investment grade status earlier this year.

European corporate bond market participants are hoping a public holiday on Monday will provide the market with a fillip when it reopens on Tuesday. There was a soft end to the prior week in both primary and secondary.

The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.

Commerzbank’s decision to issue a Pfandbrief on the last day of the week strongly implies that supply is going to get much brisker over the next, holiday-shortened week. Its decision paid off, but it clearly questions the longevity of enthusiastic covered bond demand.