Europe
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Landesbank Baden-Württemberg (LBBW) is marketing its first Singapore dollar-denominated transaction, a Basel III tier two subordinated bond, joining a slew of European lenders that have sold deals in the currency. -
The European Commission hardened its stance on a clearing exemption for pension funds on Thursday as the final version of a proposed piece of legislation reduced the potential scope of the grace period to five years.
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News that Volvofinans Bank, the finance arm of Volvo Cars, is planning a green bond backed by its loans on hybrid and other non-fossil fuel cars is a welcome sign of the green awareness spreading across the corporate world.
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The Belgian government sold the first chunk of its stake in BNP Paribas for €2bn through a structured trade that began on Wednesday night. The four bookrunners priced the trade aggressively and were left long of some stock, but luck has been with them so far, write Jon Hay and Aidan Gregory. They will be praying their fortune holds and Emmanuel Macron wins the second round of the French presidential election on Sunday.
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Spanish banks have taken just over four months to shoot past the supply totals they managed in the whole of last year, after yet another impressive deal was priced this week. With the creation of a new senior asset class potentially just around the corner in Spain, 2017 could turn out to be a bumper year for the nation’s financial institutions.
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Attempts by the German debt management office to prevent another collapse in the European repo market are not enough, according to market participants — though they may have benefited German taxpayers.
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The Republic of Turkey has launched its largest 30 year bond since 2010, as investors shrugged off the recent constitutional referendum and dived in to catch the sharp rally in the country's spreads.
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The IPO of VolkerWessels, the Dutch construction and property development company owned by the Wessels family, achieved coverage on its full deal size by Wednesday morning, two working days into the bookbuild.
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Next week should be a busy one for corporate bond issuance in Europe, providing the expected happens in France’s second round presidential election on Sunday.
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Several leveraged loan deals were wrapped up this week in an otherwise quiet window for primary issuance.
