Europe

Metrovacesa, the Spanish property developer that collapsed during the financial crisis, hopes to become a listed company again, having filed an intention to float document on Tuesday.

The list of European leveraged loan deals for January is rapidly growing, with multi-billion offerings in euros, sterling and dollars as borrowers seek low margins. But some buyers believe the market is becoming too hot, too fast.

Caffil managed to attract a strong order book for its eight and 15 year covered bonds issued on Tuesday, largely because it paid careful attention to size, starting spread and tenor.

Santander has come to the market with its second senior non-preferred bond in euros, as banks turned back towards the currency in the second week of the year.

Erste Group attracted solid demand for its 10 year covered bond on Tuesday and, by pricing the transaction with a relatively slim new issue premium, it helped assuage concerns about the appropriateness of this tenor that followed deals issued last week.

Italian electricity supplier Enel sold its second green bond on Tuesday, repeating the timing of its first such offering in 2017, which it also sold in the second week of the year. The latest deal was the same size, but priced tighter and won a larger order book, despite printing with a longer maturity.

The world's largest brewer Anheuser-Busch InBev’s last visit to the euro bond market was to help finance its $107bn acquisition of SAB Miller in 2016 and on Tuesday the issuer returned with a smaller offering that investors were still thirsty for.

The Turkish sovereign has mandated three banks for its usual start of year dollar bond while Turkiye Sinai Kalkinma Bankasi released guidance for its note. But the latter drew criticism for going head to head with its sovereign.

French telecoms operator Orange sold a new 12 year trade on Tuesday and paid a low new issue premium for the €1bn deal. The deal was one of three that priced on Tuesday, but only seven new issues for the year so far, meaning investors are keen to put their money to work.

Deutsche Bank opened books on three tranches of non-preferred senior debt in the euro and sterling markets on Tuesday, becoming the latest European financial institution to knock out multiple funding obligations in one go.

Jacquet Metal Service, the French steel construction and distribution company, has launched its second Schuldschein, aiming it at Asian and European commercial banks.

GEA Group, a maker of equipment for the food processing industry in Düsseldorf, has launched a €150m dual tranche Schuldschein, hoping to attract a wide variety of investors.