Europe

VFS Global, Kuoni’s visa and passport services business, has scheduled a lender call next week to market €760m-equivalent of new loans, backing an acquisition and the refinancing of debt.

Caisse des Dépôts et Consignations (CDC) sold its largest ever sterling bond on Thursday, raising £300m with a three year deal.

Stora Enso, the Finnish-Swedish wood, paper and packaging maker, started a roadshow on Tuesday for a €300m bond that will have one of the longest tenors in the high yield market this year.

Nationale-Nederlanden Bank (NN Bank) has registered its covered bond company, suggesting it plans to follow Rabobank with a debut deal. The move could lead to less Dutch RMBS supply, where it had been a regular issuer alongside Delta Lloyd, with which it is merging.

Spain’s CaixaBank attracted more than €3.5bn of orders on its first entry into the additional tier one (AT1) market on Thursday, despite growing caution around the precarious financial situation of its compatriot Banco Popular Español.

Investors put more than €2.25bn of orders into a rare operating company level senior bond from Royal Bank of Scotland on Thursday, as floating rate bonds appear as a "more attractive option" for an increasing numbers of issuers, according to bankers.

CVC Capital Partners has closed its latest European and North American fund at a hard cap of €15.5bn. That makes this its largest fund and one of the largest ever by a European private equity firm.

Intesa Sanpaolo has finally launched into general syndication a €5.2bn loan that it solely underwrote for the acquisition of a 19.5% stake in Rosneft by the Qatar Investment Authority and Glencore, after months of delay and reports that it might not happen.

Commerzbank has signalled its intention to formally pull out of the ship Pfandbrief business, while NordLB is considering a sale of Deutsche Hypo to shore up capital after absorbing BremerLB’s loss-making shipping business.

Norilsk Nickel had taken a book of $1.4bn for its new April 2022 and looked to be on track to print with its lowest coupon ever as it makes use of the seemingly unstoppable bid for emerging market assets.

Latvia launched a €350m dual tranche tap of its 2026 and 2036 bonds on Thursday morning, its second visit to the international markets this year.

North London football club Tottenham Hotspur has signed a £400m five year loan with a group of banks to finance the building of its new almost 62,000 seater stadium.