Europe

Aier Eye Hospital has raised €174m ($205m) from seven banks, helping fund its acquisition of Spanish company Clinica Baviera.

Ukrainian loan deals are due to hit the market at lower margins than last year as miniscule interest rates and squeezed bond yields provide a more favourable market for borrowers.

World Bank will find out whether what has been a resilient market for public sector dollar issuance over the summer can support a jumbo trade, after mandating for what will be the first such deal in dollars from an SSA since the spring. Swedish Export Credit Corporation is also out in the currency, going ahead despite some geopolitical and US governmental turmoil over the last few days — and more issuers are lining up to follow.

The euro market for public sector borrowers appears to be fully reopening after the summer break, with a pair of issuers bringing mandates in very different tenors. Both trades are likely to benefit from the lack of supply over the last few weeks, said bankers.

The International Swaps and Derivatives Association (ISDA) on Monday spoke up against a potential location policy for central counterparties (CCPs) after Brexit, saying that constraining euro derivatives trades' clearing to the EU 27 would increase price volatility, execution costs and systemic risk.

The UK’s vibrant market for real estate investment trust IPOs gained another deal on Monday when Warehouse Reit, a company that does what its name suggests, announced its intention to float on London’s Alternative Investment Market (AIM).

Stiga, the company known until June as Global Garden Products, is out with a refinancing loan deal led by one of its shareholders, the speculative grade investor Alcentra.

Although bankers predict the euro high yield bond pipeline will be varied and busy for September, investors delivered a message of caution as they took out €730m from European high yield funds last week.

Though there is still scope for the financial institutions bond market to start creeping back to life this week, participants think they will have to wait until September before new issuance volumes really start to perk up.

Kuwait’s Burgan Bank’s Turkish branch, Burgan Bank AS, signed a dual tranche facility of around $205m from 14 banks, at slightly higher pricing than its top tier compatriots.

European corporate bond market participants are expecting supply to start again after the UK bank holiday on August 28. Kimberly-Clark was the first issuer into the pipeline when it announced a European roadshow on Monday morning.

Nomura has added a new head of global markets sales for Russia and CIS as it continues to expand its emerging markets business following the appointment of David Ishoo-Mirzayoo as head of CEEMEA sales in March.