Europe

Bazalgette Tunnel, the company building the Thames Tideway ‘super-sewer’ in London, has all but completed its innovative £2.5bn financing programme, having placed two £50m green bonds last week.

Swedish Export Credit Corporation will bring a three week dearth of SSA dollar benchmark issuance to an end on Tuesday after mandating for a three year issue. A shift in Libor rates, swap spreads and secondary levels since the last glut of dollar supply should all make for a keenly watched trade, said bankers.

Turkish discount grocer Şok Marketler got its IPO over the finish line at the top of its revised price range.

Two Scandinavian technology IPOs are gaining traction among investors after launching last week.

Infrastructure investor Sequoia Economic Infrastructure Fund (SEQI) has used an equity placing to repay the bulk of a drawn down revolving credit facility, maintaining a capital plan the company flagged at the end of last year.

Danske brought its first ever senior non-preferred deal on Monday after it was unexpectedly postponed a fortnight ago, as supply looked set to surge in the FIG market this week.

BMW Finance had to negotiate its way through a busy corporate bond market on Monday as it sold a €1.75bn 4.5 and eight year dual tranche offering. It had to pay new issue premiums of around 8bp-10bp but saw strong demand.

Allied Irish Banks is one of the first eurozone lenders to have published its formal minimum requirement for own funds and eligible liabilities (MREL).

The Pfandbrief market may at last be stabilising after almost 18 years of contraction. And with the share of mortgage Pfandbriefe growing and peripheral exposure shrinking, collateral quality has improved. The market is set to evolve as new names emerge, others merge and some disappear.

Austria's Oberbank has mandated leads to roadshow its first covered bond.

Two A-rated corporates went head to head in the euro corporate bond market on Monday as UK pharmaceutical giant GlaxoSmithKline and US electrical systems manufacturer United Technologies Corp both launched triple-tranche deals, with two matching maturities, which totalled €4.5bn.

Texan chemicals group Kraton opened up the European high yield deal pipeline this week with a debut deal that will help refinance a dollar bond. The firm is also topping up a US loan as it looks to cut its borrowing costs.