Europe

Standard Chartered has hired a banker for a new job covering UK corporate DCM within its European debt capital markets operation.

Standard Chartered is strengthening its credit teams in Singapore, Hong Kong, London and New York, the bank said this week.

Turkey’s QNB Finansbank has released initial price thoughts for a five year dollar trade, as investors grappled with how to price in Aa3-rated Qatar National Bank's ownership of the Turkish borrower.

Pemberton has hired a veteran leveraged finance banker as a new partner in its origination team, as it further builds out its private debt platform in Europe.

Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.

The European Financial Stability Facility has sent requests for proposals for a trade next week, as a pair of rare issuers on Wednesday placed deals flat to or through fair value in a euro market buoyed by Emmanuel Macron’s election as French president last weekend. Longer dated trades — of which the EFSF has sold several this year — also look to be back on the table for borrowers.

PSP Investments, the Canadian pension investment manager, has expanded its operations with the launch of a European hub, and wants to invest increasingly in private debt and real estate.

General Electric brought the first 20 year corporate bond of the year as part of an €8bn multi-tranche blow-out this week, in a trade that bankers say is the clearest sign yet that the market is capable of absorbing the slew of deals headed its way.

Car maker BMW kept the week’s vibrant sterling market going on Wednesday by bringing a £250m 4.5 year trade, following a day behind a £300m transaction for construction company LafargeHolcim.

Crisis-hit Croatian conglomerate Agrokor will not go bust, the country’s central bank governor insisted in an interview with GlobalMarkets as he said the debacle highlighted the risks of firms building up bad balance sheets.

Aroundtown Property Holdings, the Germany-focused property company, raised €426m on Tuesday evening to finance a tender offer for convertible bonds due in 2020, via a popular block trade that was covered in 45 minutes.

After Banco Santander Totta broke the two year Portuguese covered bond hiatus with a well performing seven year in April, Banco Comercial Portugues has mandated leads for its first covered bond since 2009.