Europe

KBC Bank took full advantage of limited Belgian covered bond supply this year to radically tighten pricing for its first deal of the year, only the second Pandbrieven of 2017.

Prudential plc secured an attractive rate of funding when it sold a new perpetual tier two bond on Tuesday, but market participants remain unclear whether or not there is enough demand for fixed-for-life coupons to allow a flurry of new issuance from other European insurers.

SP Mortgage Bank’s second covered bond brought in many new investors enabling the transaction to price inside interpolated fair value. With more buyers chasing this name and more trading desks expected to quote it, SP’s curve has a fair chance of repricing tighter.

Development finance institutions the European Bank for Reconstruction and Development (EBRD) and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.

Barclays has enhanced its bank research operation in Europe with the hire of two senior analysts to head the team.

French shipping group CMA CGM will launch a sub-benchmark sized bond on Tuesday, a week after S&P Global upgraded the rating of its unsecured note issuance from CCC+ to B-, bringing it into line with Moody's B3 rating.

The ministry for the economy of Catalonia, the rebellious region seeking independence from Spain, is working on a white paper on what role the potential new state will play in international markets. The document reveals an aspiration to become a hub for co-operative and ethical bank issuance.

Agencies from the Netherlands, France and Germany are set to come to market on Tuesday for short dated dollar deals.

KfW hit screens on Monday, mandating three banks for a five year euro transaction.

Digi Communications’ Hungarian subsidiary signed a €200m bridge loan on Friday to finance its acquisition of compatriot communications company Invitel Tavkozlesi, a subsidiary of Invitel group. The lead banks have launched the syndication and held a bank meeting on Tuesday.

Footasylum, the UK sports shoe retailer, plans to float on London’s Alternative Investment Market next month, it said in an intention to float document on Monday.

Turkey’s fourth largest private bank Yapi Kredi signed a $1.36bn syndicated loan with 37 banks on Monday.