Europe

The SRI market is in full swing. Two borrowers are set to come to market on Tuesday, while a third is going on the road to promote its return to the format.

Wihuri Packaging on Monday became the third Finnish borrower to enter the Schuldschein market ever, and the second issuer from the Nordic countries to issue this year.

European implied equity volatility has fallen after Angela Merkel secured a fourth term as German chancellor and despite Italy's general election producing a hung parliament.

Two SSA borrowers readied trades in the dollar market on Monday, lining up for a busy week of issuance.

Russian Copper Company has signed a $250m loan with a club of banks to refinance a previous facility.

Siemens has chosen to set a price range designed to please investors on the IPO of its medical technology division Siemens Healthineers, rather than seeking an aggressive valuation.

Commerzbank has mandated joint leads for a seven year mortgage backed Pfandbrief.

UK gaming group GVC Holdings has launched a £1.9bn equivalent loan facility into general syndication, as the company edges closer to its up to £3.9bn acquisition of Ladbrokes Coral.

Austrian wood products manufacturer Egger Holzwerkstoffe sold its third hybrid capital deal on Monday, with its largest size and lowest coupon to date. At the same time, Brisbane Airport announced plans to diversify its investor base.

Toronto Dominion Bank this week issued a €1.25bn short five year euro covered bond with a modest concession that matched the record tightest Canadian euro covered bond spread, albeit with a rather low subscription ratio.

A debut trade from Stark Group, the Nordic building materials supplier, gave high yield investors their first chance to invest in single-B rated bonds in about a month. The deal announcement arrived while market participants were still assessing the victory of Eurosceptic parties in the weekend's general election in Italy.

The Financial Conduct Authority on Monday said it had settled with former Deutsche Bank interest rate derivatives trader Guillaume Adolph, for manipulating Libor submissions, and fined him £180,000.