Europe

A credit index trader at Société Générale in London, Gamal Selvarajah, has left the bank, GlobalCapital can confirm.

Rentenbank will tap a resurgent long end dollar market on Tuesday, alongside a rare appearance in the currency from the Canadian sovereign in fives and a French agency in threes. This is only the second time in nearly two and a half years that issuers have peppered the whole of the dollar curve on the same day.

Orphazyme, a Danish biotechnology company, has revealed the terms for its IPO on Nasdaq Copenhagen.

UK telecoms group Virgin Media will begin marketing a jumbo loan this week, in a market that bankers describe as awash with demand. Many issuers are returning in search of tighter margins as soon as their loan terms allow.

There were no Monday morning blues in the investment grade corporate bond market this week as five issuers offered investors a variety of deals to consider.

The five deals which priced in the euro corporate bond market on Monday offered investors a variety of options, including hybrids and floaters. For duration buyers, French motorway operator Autoroutes Paris-Rhin-Rhône was in market with a January 2033 maturity.

On Monday, French laboratory testing company Eurofins Scientific followed last Monday’s €299m equity sale with a €300m hybrid deal paying very little new issue premium, as the firm’s funding keeps pace with its acquisitions.

SpareBank 1 Boligkreditt unearthed solid demand for its first covered bond in sterling, managing to price at the tight end of guidance with a comfortably oversubscribed book, despite issuing in the more challenging five year tenor.

The trend for corporate issuers in 2017 has been to sell bonds with longer tenors, but in among a five deal issuance spree on Monday was a couple of two year floating rate notes from rare issuers.

Russian goldminer and debut bond issuer Petropavlovsk is expected to bring a new five year note with a yield in the region of high 5% on Tuesday. Bankers will be watching with interest to see how the equal lowest rated non-financial Russian debut corporate issuer fares.

Barclays opened books for its first green bond transaction on Monday — a callable senior deal from its holding company — as two more financial institutions said that they would hit the road with new green bond frameworks of their own.

Achmea Bank has mandated leads to market its inaugural conditional passthrough covered bond programme, with the bank eyeing a €500m seven year deal.