Europe

Unipol Gruppo was unable to tighten pricing on its new senior unsecured deal on Monday, as financial institutions crowded the market with new transactions ahead of Thanksgiving.

Poland on Monday raised €300m with a two year private placement, its second such instrument in as many years.

Oleg Tinkov, the Russian billionaire, has sold a stake in TCS Group Holding, the London-listed Russian retail bank he founded, for the first time since its $1bn IPO in 2013, taking advantage of a strong rally in the stock this year.

Valora, the Swiss convenience retailer, has raised Sfr172m through an equity capital raising to refinance its acquisition of German bakery group BackWerk and to grow its production capabilities.

Crédit Logement was able to sell a new tier two very quickly on Tuesday, despite the deal hitting screens at the same time as six other deals from financial institutions in the euro market.

Property developer Soho China has filed for a Rmb10bn ($1.5bn) medium term note programme with the National Association of Financial Market Institutional Investors, in preparation for its debut deal in the Panda bond market.

China Resource Cement Holdings is making a return to Panda bonds more than a year after its debut in the Mainland’s onshore renminbi market.

The Financial Stability Board (FSB) made seven changes to its list of global systemically important banks (G-SIBs) on Monday, lowering capital requirements for BNP Paribas and Credit Suisse and removing Groupe BPCE from the list entirely.

Unédic has announced that it intends to sell a seven year benchmark from its unguaranteed Neu MTN programme on Tuesday, in what is likely to be the borrower’s final benchmark of the year.

Eurozone public sector bond prices were largely unmoved late on Monday afternoon, despite talks to form a coalition government in Germany collapsing in the small hours of the morning.

Consus Real Estate, the German real estate developer, has raised €200m by issuing a convertible bond today to continue its growth push.

The euro high yield market woke up to a thin bond pipeline this week after suffering the largest weekly retail fund outflow since 2015. But this is not the end of trading for the year, said bankers and investors.