Europe

Credit Bank of Moscow reopened the new style tier two market for Russian issuers in style on Wednesday with a $600m deal that was five times subscribed.

Gazprom went for size with its sterling market return on Wednesday, pricing the second largest deal ever in the currency from an emerging markets borrower.

Canada’s Bank of Nova Scotia was looking to sell its first fixed rate senior bond in the euro market on Thursday, shortly after Europe’s own banks decreased their funding needs by taking large quantities of free money from the European Central Bank.

The European Commission on Wednesday struck down the all-but-dead proposed merger of the London Stock Exchange Group (LSEG) and Deutsche Börse.

Corporate hybrid bonds are emerging from hibernation blinking into the spring sunshine this week as Tennet brought the second benchmark sized transaction of the week following fallow months. But syndicate bankers are split over how long the revival will last.

Shares in Neinor Homes, the Spanish home builder owned by Lone Star Funds, closed 3% above their IPO price on Wednesday after it made its debut in Madrid, in a show of investor confidence in the economic recovery in Spain.

French industrial equipment lessor Loxam launched the financing backing its acquisition of Lavendon on Wednesday, an €850m three tranche high yield offering.

Sweden made a big noise in an otherwise quiet dollar market for public sector borrowers this week as it printed the tightest priced benchmark in the currency so far this year.

Ülker, a Turkish food manufacturer, has sent out a request for proposals for a $200m syndicated loan, making it the first corporate borrower from the country to enter the market this year, according to a banker on the deal.

French cable manufacturer Nexans launched a €200m bond on Wednesday, bringing back the bookrunners on a bond sale it had to cancel two years ago — but this time, the market was ‘diametrically different’, said bankers.

Saipem, the Italian oil and gas engineering group, entered the high yield bond market on Wednesday, backed by a return to profit and rising oil prices, in a deal set to attract the company’s home crowd.

Cory Riverside Energy, the UK waste management and energy firm, has signed a £520m loan restructuring package, after divesting three of its four businesses since Strategic Value Partners took control of it in 2015.