Europe

Sistema bonds fell three and a half cash points on Wednesday morning after Rosneft filed a Rb106bn ($1.87bn) lawsuit against the Russian holding company.

Russia’s RenCap has bolstered its senior management team with a new sales head as it reorganises its markets business.

Caffil enjoyed very strong demand for a two tranche covered bond offering on Wednesday and showed just how much the squeezed technical backdrop is forcing investors' hands.

Investors were rewarded handsomely if they bought into Barclays’ $2bn tier two on Tuesday, after the deal performed very well in the secondary market.

Banks are lining up new deals as they exit their blackout periods, hoping to take advantage of super-tight bond spreads and strong investor demand.

Corporate bond investors have only snacks to feed on in the new issue market this week, but if Emmanuel Macron wins France’s presidential election on Sunday, next week is set to bring more solid fare.

Fibabanka emerged with pricing on Wednesday for the first Turkish tier two bond since last month’s constitutional reform referendum.

Criteria Caixa was well received on its return to the euro senior unsecured bond market on Wednesday, as Spanish financial institutions capitalise on investors’ confidence in the country’s economic recovery.

Volvofinansbank today announced it would meet investors in Stockholm on Monday May 8 to present a framework for its inaugural green bond. The deal will be one of the few green bonds from the automotive sector.

Nestlé made its second visit of 2017 to the Eurodollar bond market on Tuesday, issuing a $300m five year that it managed to price 19bp tighter than a similar deal in January.

The European Commission aims to introduce a mechanism that will allow it to “temporarily suspend” clearing obligations for certain OTC derivatives products or counterparties if requested to by the European Securities and Markets Authority (ESMA).

Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.