Europe

The UK Debt Management Office’s Gilt sales target for the 2018-19 financial year has risen £3.1bn ($4.32bn) to £106.0bn from the initial aim outlined after the government’s spring statement in March.

German car leasing company Sixt Leasing had the benefit of meeting more than 30 investors and seeing another car leasing company print a deal before coming to market on Tuesday. However, based on order book size and pricing, this backdrop didn't help much.

A sale of shares in SSAB, the Nordic steel producer, by Industrivärden attracted heavy demand from investors bullish towards the sector after Chinese production cuts caused a rally in the price of steel.

Post-trade infrastructure giant the Depository Trust and Clearing Corporation (DTCC), has warned derivatives markets that attempts to implement distributed ledger technology should be coordinated, lest mistakes of the past are repeated.

Swedbank announced in its results on Tuesday that a proposal to change the regulatory treatment of Swedish mortgages would lower its common equity tier one (CET1) ratio. The rule change will also take Swedish banks’ additional tier one (AT1) bonds closer to their trigger levels.

The European Central Bank (ECB) could be drafted into providing liquidity to banks going through resolution, according to discussions at a conference in Frankfurt this week.

Sparebanken Sør was able to get a ‘good and tight’ print on its first outing in the euro market for senior unsecured debt on Monday.

Renaissance Capital has added to its emerging and frontier markets team with the appointment of Ivan Kachkovski as an equity research analyst.

A Nordic SSA has promoted a member of staff to be its new head of funding.

Caja Rural de Navarra (CRN) mandated leads on Tuesday for a €500m seven year sustainable covered bond which is likely be launched on Wednesday. At the same time, Landshypotek Bank AB mandated leads for a roadshow to present its green framework ahead of a five year Swedish krona covered bond benchmark.

The UK borrower pipeline in the US private placement market is looking strong across May and June, as treasurers see market volatility and rates rises on the horizon. However, some market participants are still concerned that bank lending will provide the biggest challenge to US PP growth in Europe.

Investors in Rusal’s bonds have lost this round. But the game of investing in Russia has not finished yet.