Europe

The UK Debt Management Office has selected the bond to be issued at the second syndication of its 2017-18 financial year, picking a bond at the long end of its target range.

Ireland has printed just shy of the 50 year part of the euro curve using a pair of private placements, a market it has used with increasing frequency over the last year.

Delivery Hero, the German online food delivery platform, is set to price its €866m IPO at the top of its range, following the latest guidance on pricing on Wednesday morning.

Lonza launched a €300m Schuldschein on Monday. The Swiss medical firm’s debut Schuldschein comes denominated in dollars and euros in a bid to, among other things, attract southeast Asian lenders, with natural dollar lending needs.

Leads Building Society extended its covered bond curve by four years on Monday with a €500m seven year covered bond that was priced with little new issue premium. The transaction is expected to be followed by Bank of Queensland’s first covered bond.

Toby Ali has left his leveraged finance job at Bank of America Merrill Lynch to join Citi.

French family office Caravelle has been granted exclusivity to buy Tiama, a provider of services to the glass packaging industry, from shareholders EQT Credit II, Kartesia, European Capital and Omnes.

Skipton Building Society returned to the senior market with a £350m five year bond on Monday, as smaller UK financial institutions prepare for the withdrawal of central bank funding schemes.

European authorities have determined that the long struggling regional Italian lenders Banca Popolare di Vicenza and Veneto Banca will be liquidated under national legal proceedings and their good parts will be sold to Intesa Sanpaolo. Italian bank bonds rallied on details of the plan, which involves burden sharing and nearly €17bn of state aid measures.

The bookrunners on Polish debt collection agency GetBack’s Z1.1bn (€259m) IPO in Warsaw are marketing the deal at an eye-popping discount to its closest peer.

French fashion group SMCP is ready to pursue a listing again, after canning its IPO plans last year in favour of a sale to China’s Shandong Ruyi Technology Group Co.

The European Parliament’s economic and monetary affairs committee (Econ) has voted on an own-initiative report on covered bond harmonisation and outlined a three tier approach to the asset class. The committee proposing distinguishing between premium covered bonds (PCBs), ordinary covered bonds (OCBs) and European Secured Notes (ESNs). The new categorisations are supposed to prevent regulatory cliff effects.