Europe

Moscow Exchange (MOEX) on Monday expressed its intention to be recognised as a third-country trading venue under the Markets in Financial Instruments Directive II (MiFID II), listing some of the steps it has taken to become compliant.

Sabre, the specialist UK car insurance company behind brands such as GoGirl, Drive Smart and Insure2Drive, is attracting high levels of investor interest at the beginning of the roadshow for its £213m IPO.

Ford Motor Credit Co, the financial services arm of US motor company Ford announced a dual tranche corporate bond deal on Monday comprising two floating rate notes.

Deutsche Pfandbriefbank (PBB) issued an opportunistic £450m three year sterling covered bond on Tuesday. The funding proceeds provided a currency match for the bank’s sterling assets, with the cost being reasonably close to what it could have achieved in euros.

UK water utility Severn Trent sold a £250m five year corporate bond on Monday, building upon the positive tone in the sterling market from the previous week.

Globalworth Real Estate Investments, the Aim-listed real estate investment trust focused on Poland and Romania, is pushing ahead with its proposed €300m capital increase, after securing the backing of several cornerstone investors.

The Russian loan market is moving towards more unsecured deals with Russian paper company Ilim signing the fourth unsecured deal this year, for $500m.

The Republic of Turkey is planning to use yen to round off its funding for the year, and has named three leads to arrange the deal.

Yves Dupuy, Société Générale’s former chief information officer for global banking and investor solutions EMEA, has joined post-trade infrastructure company Euroclear as its CIO, a newly created role.

UBS was looking to sell short-dated senior bonds in the dollar market on Monday, as banks began the week by selling defensive trades. But the pipeline is stocked with riskier deals in the run-up to the end of the year.

TSB Bank (TSB) has mandated leads to market its inaugural covered bond. At the same time Moody’s has rated the programme at Aaa.

Political calls for the bank capital system to favour green assets are intensifying. GlobalCapital has learnt that Peter Simon, the German MEP running the European Parliament’s work on a big package of banking legislation, is backing the idea.