Europe

Femsa, the Mexican soft drinks and retail company, surprised some in the equity capital markets on Monday night when it sold €2.5bn of the stake in Heineken that it acquired when the Dutch brewer bough its brewery division in 2010.

Oesterreichische Kontrollbank is the only public sector issuer on screens for Tuesday business in either euros or dollars, with supply in the latter likely to be dampened this week due to a crucial US Federal Reserve meeting.

On Monday evening, Telia, the Nordic telecoms group, launched another large block trade of shares in Turkcell, the leading mobile phone operator in Turkey.

The International Swaps and Derivatives Association (ISDA) released new recommendations on how to manage the recovery and resolution of central counterparties (CCPs) on Monday. The organisation also encouraged regulators to not distract themselves with 'politically driven topics', citing the debate on whether certain clearing houses should be relocated to European Union member states after Brexit.

Interoute, a UK network and cloud services operator, is set to refinance its only high yield bond issue with a new leveraged loan that it launched this week.

Caffil set final terms of 2bp through mid-swaps for its no-grow €750m trade, this being the tightest spread the issuer has ever achieved for a 10 year trade.

September has seen a variety of issuers access the corporate bond market. From regular issuers to those who have not issued for over a decade, the consistent theme has been single digit new issue premiums for what one syndicate manager described as “manageable deal sizes.” Monday saw new issues in a similar vein.

SMCP, the French fashion group, has filed a document de base with AMF, the French market regulator, paving the way for its flotation on Euronext Paris.

Barclays has launched a Green Bond Framework, paving the way for it to issue notes specifically used to finance environmentally-friendly homes.

Turkey’s Yapi ve Kredi Bankasi has put its second refinancing loan of the year in motion with banks expected to respond by Wednesday.

Ukraine opened books on its first Eurobond since 2013 on Monday, with the pricing labelled both “attractive” and “silly” by different corners of the market at initial price thought levels.

Sweden’s Hoist Kredit has said that it is looking to raise new senior debt in euros, at the same time as asking some of its existing senior bondholders to swap their notes for cash.