Europe

Kommunalbanken could potentially visit the green bond market before the summer, helping to fund a growing green lending programme. It is also likely to follow up with another conventional benchmark issue after the break.

Avast, the Czech cyber security company, has set the terms of its London IPO, valuing it at £3.2bn at the top of the range.

Two issuers with double-B ratings, Darling Ingredients and Avast, achieved substantial financial cost savings with repricings this week, as pricing for top rated paper still looked attractive despite a recent uptick in spreads.

The Schuldschein market has been eerily quiet this week. German borrowers dominated a diminished deal flow while arrangers mulled over further price tightening to attract debut corporates and encourage existing issuers to refinance in the market.

Springer Nature, the German academic publishing group, has opened the books on its €1.3bn Frankfurt IPO with a price range that gives a “healthy discount” to peers.

Cherkizovo, the Russian meat and sausage producer seeking to list on the Moscow Exchange, has failed to get its re-IPO away, citing market volatility for postponing the deal.

Energo Pro, a hydro power plant operator and electricity distributor in Bulgaria, Georgia and Turkey, finished its roadshow in Wednesday and is planning to bring a euro-denominated bond as early as Friday.

Santander's UK subsidiary became the latest financial institution from the country to market bonds in sterling on Thursday. The final spread was barely moved from initial thoughts.

Canada’s office of the superintendent of financial institutions (OSFI) is expected to raise limits on covered bond issuance, paving the way for additional supply from established and new names.

Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before.

The Single Resolution Board published a statement on Thursday in which it called on EU legislators to support its work in dealing with failing banks by harmonising the region’s various insolvency laws.

The boutique has turned to experienced hires as it looks to build a UK business in short order, ahead of a potential IPO, writes David Rothnie.