Europe

We need to talk about capital. But language makes it difficult.

Nykredit found strong demand for its five year floating rate euro denominated tap. Demand for the deal was boosted by the fact that euro denominated Danish bonds with a bullet maturity are issued rarely.

Société Générale has set a goal of raising €100bn of financing for clean energy transition between 2016 and 2020.

Leveraged loan investors are still at the table in a week many expected to be quiet. Double-B rated borrowers like Nomad Foods, the UK frozen food producer, found strong demand after slashing margins and selling add-ons.

Ireland is open to the possibility of adding green bonds to its funding mix as it looks to diversify its portfolio of debt instruments, according to the country’s head of funding.

The turn in investor sentiment against real estate investment trust IPOs was demonstrated again on Wednesday when Aviva Investors, one of the UK’s biggest commercial landlords, pulled its new fund due to a lack of demand.

BioPharma Credit, the closed end investment fund that provides debt capital for the life sciences industry, raised $153.9m in an accelerated bookbuild yesterday to fund investments.

Europe's largest property company Unibail-Rodamco announced an agreed offer of $15.7bn for the equity of Westfield Corp, the Australian shopping centre operator, on Tuesday. The deal, which valued the enterprise at $24.7bn, was the second retail property consolidation in a week as the sector comes under the M&A spotlight, writes Nigel Owen.

France is looking to syndicate an inflation linked benchmark in 2018, after announcing its funding plans for the year on Thursday.

Sistema, the Russian conglomerate controlled by Vladimir Yevtushenkov, has been forced to cancel the $70m sale of Detsky Mir shares it conducted on Monday night, after some of its assets, including its stake in the toy store, were frozen by an arbitration court in the Republic of Bashkortostan.

After declining this year, analysts at LBBW research expect covered bond supply will weaken again in 2018 largely driven by a steep fall in redemptions. Their forecast is broadly in line with analysts at Commerzbank and UniCredit, but more pessimistic than forecasts made by analysts at Société Générale, Crédit Agricole and JP Morgan.

Savannah Petroleum, the UK oil and gas company focusing on African exploration, has announced a range of 40p to 50p a share for a follow-on share placing to fund its acquisition of the Nigerian oil and gas assets of Seven Energy.