Europe

Moody’s has bought Bureau van Dijk, the Dutch business intelligence firm, from EQT for €3bn, and is set to finance the deal with offshore cash and new debt.

Kommunalkredit Austria AG said on Monday that it had accepted all validly tendered bonds following its offer published May 4.

Verallia, the French bottle maker, requested a repricing of its €1.375bn term loan ‘B’ this week, having repriced it only in December.

Hamburger Sparkasse has mandated joint leads for its second publicly syndicated Pfandbrief which is expected to be launched on Tuesday.

The list of Norwegian covered bond issuers entering the euro market continues to grow with Møre Boligkreditt (Morebo) mandating joint leads to roadshow its deal in the single currency.

UniCredit and HSBC opened books on new additional tier one (AT1) bonds on Monday, as banks took advantage of extremely supportive primary market conditions to bolster their stocks of debt capital.

Barclays has priced the tightest sterling covered bond since January 2015 and attracted more demand than for any sterling covered bond ever issued.

Swedbank fixed a final spread below 100bp on a new €650m 10.5 year non-call 5.5 on Monday, as issuers in the asset class benefit from supportive market conditions and strong supply dynamics.

The European subsidiary of CNH, the US agricultural machinery company formerly called Case New Holland, launched a benchmark euro high yield bond on Monday, as yields in the market hit new all-time lows.

Slovenian Sovereign Holdings (SSH), which manages Slovenian state assets, has begun the privatisation of Nova Ljubljanska Banka, the country’s largest bank, having published an intention to float document on Monday morning.

Turkey’s Garanti Bank is expected to capitalise on the strong rally in emerging market credit to print its debut Basel III-compliant tier two capital bond this week, and bankers are wondering how much of the recent market tightening will be seen in the price.

Global Ports Holding, the Turkish company that owns 15 ports in the Mediterranean and further afield, has priced its London IPO just above the bottom of the range, achieving a £465m market capitalisation. The shares are trading up about 1.75%.