Europe

KfW launched a three year global on Tuesday, raising $5bn, while Japan Bank for International Cooperation picked banks for a four tranche dollar trade.

Oesterreichische Kontrollbank (OeKB) returned to the sterling market on Tuesday, raising £350m with a five year deal.

Chinese loan banks are appearing in more and more emerging market loan deals this year, as they race towards the loan market big league, but while their hunger for market share is evident, they're still taking a conservative approach.

A pair of agencies launched socially responsible investment deals in euros on Tuesday, while a third picked banks for a dollar trade.

US investment house Muzinich sealed the first closing of its new pan-European private debt fund on Tuesday, amid a widespread rise in interest in the asset class.

Balancing public money with private profit can be a challenge, and Brexit makes it doubly difficult. The European Investment Bank is set to become something of a football in negotiations between the UK and the EU27 — and the UK’s corporates could stand to lose out. What, if anything, should replace it?

Russia’s largest coal producer Siberian Coal Energy Company (Suek) has signed a five year $1bn pre-export finance facility, the third deal of its kind from the country this year.

ICG’s previous head of credit fund management Dagmar Kent Kershaw has taken a new role in the investment sector, following a sabbatical after leaving ICG last June.

Italy’s BPER Banca attracted “a lot of attention” for a new tier two on Tuesday, helping to encourage Spain’s Banco de Crédito Social Cooperativo to mandate for a deal of its own.

International Bank of Azerbaijan has asked investors to agree to a restructuring of its balance sheet that will see the exchange of its outstanding bonds for new sovereign debt, and a limited amount of new IBA debt. IBA has also said that it must transfer a fourth tranche of bad assets to the Bank of Aqrarkredit to restore its viability.

Swiss fintech firm Avaloq released price guidance on its Sfr410m-equivalent of euro loans this week in a deal backing Warburg Pincus’s minority investment at a valuation of over Sfr1bn. It follows French packaging firm Verllia’s repricing of its €1.375bn term loan down to 300bp on Monday.

CVC owned Douglas, the German retailer, held a lender call on Wednesday for a €300m incremental term loan, backing its acquisition of Leading Luxury Group, the Italian beauty chain.